6 Top UK Banks Broke Retail Rules, Says Regulator

By Alex Davidson (July 22, 2022, 6:18 PM BST) -- The U.K. competition regulator said Friday six top U.K. banks broke its rules by giving customers incorrect information that often could lead to wrong product decisions, while Metro Bank overcharged some customers on overdrafts.

NatWest, Barclays and HSBC as well as Metro Bank, Lloyds Banking Group and Bank of Ireland breached retail banking rules set by the Competition and Markets Authority in 2017 in ways it finds serious.

Adam Land, senior director at the CMA, said it was "very disappointing" that these six major banks have failed to uphold the rules in place for five years.

"Customers have been let down,...

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