Barclays Bank has been ordered to repay millions of pounds of interest on improperly sold timeshare loans in Malta.
It faces a further investigation that could force the bank to reimburse the debt payments in full.
In a letter to borrowers last week, the UK lender acknowledged it had been told by the Financial Conduct Authority to hand back interest already charged on loans issued between April 2014 and April 2016 by timeshare operator, Azure Services.
Barclays will also cancel future interest due on the more than 1,400 loans.
The repaid and waived interest amounts to an estimated £26m, about half of the value of the £48m of loans in question.
