Correspondence

CMA letter to RBSG on 2 breaches of the Retail Banking Order

Letter to Royal Bank of Scotland Group (RBSG) about its non-compliance with Part 6 of the Retail Banking Market Investigation Order 2017, relating to Alerts.

From:
Competition and Markets Authority
Published
28 May 2020
Last updated
11 August 2022 — See all updates

Documents

CMA letter to RBSG

PDF, 89.5 KB, 2 pages

Details

The CMA wrote to RBSG regarding breaches of Part 6 of the Order. RBSG breached the Order by failing to send out text alerts to customers who were previously youth account holders saying that they would be charged for entering an unarranged overdraft. RBSG will repay around £2.2 million in charges and interest to approximately 36,000 customers who went into or attempted to go into unarranged overdraft without first sending an alert to them.

Updates to this page

Published 28 May 2020
Last updated 11 August 2022 + show all updates

  1. RBSG Directions revoked.

  2. First published.

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