More than 200 of HSBC’s small company customers were wrongly told they had to take out a business current account to be able to access a loan.
The Competition and Markets Authority (CMA) found that the bank breached regulations over a nine-year period by telling small firms it was a lending requirement to have a business current account.
The move, dubbed “bundling”, affected 204 customers, relating to 210 loans worth more than £800,000.
