HSBC, Santander To Refund Customers After Antitrust Action

Law360, London (November 29, 2019, 11:43 AM GMT) -- HSBC and Santander are to refund millions of pounds to more than 100,000 customers after they breached rules requiring them to send alerts to customers about unplanned overdrafts, the Competition and Markets Authority said Friday.

Santander and HSBC broke rules by failing to send text alerts to customers warning them they were about to tip into unplanned overdrafts, the watchdog has said. (AP) The watchdog said the lenders broke its rules by failing to send text alerts to account holders to warn them they were about to go into unplanned overdrafts and that they would have to pay any fees they incurred...

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