GE Money Home Lending has gained notoriety for being the first mortgage lender to be fined by the Financial Services Authority (FSA) because of inadequacies in its lending processes. The firm has been fined £1.12 million for mismanaging customers’ mortgage accounts. The mortgages in question contained “retention” clauses that allowed the lender to withhold a sum from [...]

More: GE Money fined £1.12m for mismanaging mortgage accounts