HSBC to Issue Refunds to 1000s of Borrowers Due to ‘Unreasonable’ Debt Charges

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HSBC have agreed to pay out £4 million to 7,000 HSBC customers that had debt collection charges added to their credit card bills in connection with John Lewis Financial Services.

“Those customers will receive redress where they paid more than the actual and necessary cost of collecting their debt. HSBC has agreed their methodology for calculating the actual and necessary cost with the FCA,” the regulator said.

Source: Telegraph

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