Six high street banks have broken competition rules about keeping customers informed, a regulator has announced.
The Competition and Markets Authority (CMA) said Lloyds, NatWest, HSBC, Barclays, Metro Bank and Bank of Ireland all breached regulations intended to protect customers. The watchdog said a number of Metro Bank customers were handed refunds after the high street challenger bank broke legislation.
Metro Bank overcharged 92 customers for entering unarranged overdrafts, the CMA said. Among other breaches, Barclays was called out by the watchdog for failing to keep online information on interest rates for overdrafts up to date.
