Customer complaints were unfairly rejected by the Bank of Scotland.
Consumers who deserve compensation will be notified by the bank.
The Bank of Scotland has been fined £3.5 million by the Financial Services Authority (FSA) for mishandling customer complaints and will have to provide £17 million in compensation to affected consumers.
The penalty was imposed on Wednesday after the FSA concluded that the lender had rejected many complaints that should have been upheld - 45% of the 2,592 complaints that were lodged should have been maintained.
The customer grievances covered five different investment policies - the Bank of Scotland's Collective Investment Plan, the ...