Correspondence
CMA takes action against the Co-operative Bank for breaching Part 3 and Article 56 of the Retail Banking Order
CMA finds breaches of Part 3 and Article 56 of the Retail Banking Market Investigation Order 2017 and the Co-operative Bank has agreed to take action to prevent a recurrence.
Documents
Details
The Co-operative Bank breached the Order by failing to publish up-to-date service quality information on its website between 15 August 2022 and 3 October 2022. The Co-operative Bank has now taken steps to end the breach and to prevent a recurrence.
The Co-operative Bank discovered this breach on 3 October 2022. However, it only reported this to the CMA on 31 January 2023. The Co-operative Bank therefore failed to notify the CMA of the breach within the 14 days required under the Order.