Britain's competition watchdog has ordered Royal Bank of Scotland and Santa...
) to appoint auditors to check how they remind customers who have payment protection insurance , amid a mis-selling scandal over the policies.
Both previously breached an order by the Competition and Markets Authority requiring banks to send annual reminders to customers about PPI, the CMA said. RBS has set aside 5.3 billion pounds for PPI compensation so far while Santander expects to reimburse up 1.6 billion pounds worth, according to data compiled by think tank New City Agenda.
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