Just been speaking to the boss of UKAR (UK Asset Resolution Limited), including Northern Rock - says £270 million payment "cauterises" problem.
Fault was in Northern Rock's system - but not noticed until February last year during standard quality check.
He told me no one who might have made the error is still working there.
After Northern Rock announced £270 million-worth of refunds to 152,000 customers, could Virgin Money also be set for a payout?
Will Northern Rock send you money? What have they done wrong? And, what should you do now? Our Consumer Editor answers the key questions.
Some 152,000 Northern Rock customers will get a total of £270 million compensation after a small but costly mistake.