Correspondence

CMA letter to Metro Bank on breaches of the Retail Banking Order

Letter to Metro Bank plc about its non-compliance with Part 6 of the Retail Banking Market Investigation Order 2017, relating to Alerts.

• From: Competition and Markets Authority
• Published: 20 April 2020

Documents

CMA letter to Metro Bank

PDF, 94.2 KB, 2 pages

Details

The CMA wrote to Metro Bank plc regarding breaches of Part 6 of the Order. Metro Bank breached the Order by failing to send out text alerts containing wording that customers would be charged for entering an unarranged overdraft. Metro Bank will repay around £11.4 million in charges to almost 130,000 affected customers.

See the retail banking market investigation case page for information on the investigation and the order.

Published 20 April 2020