The British Financial Conduct Authority has fined Barclays £ 26 million ($ 34.65 million) for failures in how to deal with defaulting clients. p>
According to Arabiyanet, the authority said that Barclays compensated these clients and paid more than 273 million pounds to at least 1.5 million customers since 2017 as part of the program that is nearing completion .
the regulatory authority said Barclays had failed to enforce its policies in dealing with defaulting clients because it had not contacted them to understand the reasons for non-payment.
Barclays said it made adjustments after discovering the problem, and that it has contacted the vast majority of affected customers.
The bank added, in a statement, we would like to apologize to these customers for not providing the level of service as we should.
> banks are keeping the penalty in mind as they prepare for an increase in bad loans as customers struggle to meet their needs amid the worst economic downturn in 300 years due to the pandemic.
