Co-operative Bank Fined Over PPI Mishandling

The Financial Services Authority has fined the Co-operative Bank £113,300 for failing to properly handle 1,629 payment protection insurance (PPI) complaints in 2011.

The bank, which is emerging as the fifth force on the high street after a deal to take on 4.8 million customers from Lloyds, put the complaints on hold in 2011 during a court case launched by the British Bankers' Association against the FSA.

But the FSA said the Co-operative, best known for its ethical banking values, could have progressed the cases as normal during the judicial review.

"Co-op put these complaints on hold despite the FSA making it clear in a letter to the industry, dated 21 January 2011, that many claims could be progressed normally while the judicial review was in progress," the FSA said. The letter also warned that enforcement action could be taken if firms failed to treat complainants fairly.

Drug Testing Kit Approved For Police Use

A testing kit to detect drugs in drivers has been approved for police use across the UK, the Home Office says.

The kit will analyse a mouth swab for traces of cannabis. Testing capability for other drugs is being developed.

It will be used at police stations, and removes the need to have a doctor take a blood sample for drug testing.

Sales Of Printed Books Fall

Sales of printed books fell by almost £74m in the UK last year, according to data from Nielsen BookScan.

In total, readers spent £1.514bn on physical books in 2012, down 4.6% from 2011.

The rate of decline slowed slightly, principally because of EL James' Fifty Shades trilogy, which accounted for one in every 20 books bought last year.

E-books continued to be popular, accounting for 13-14% of book sales.

That marked an increase of about 5% from 2011, but the value of the entire book market shrank because of heavy discounting of digital titles - with many bestsellers retailing for less than a pound.

(GK)