banking regulation

CMA orders Monzo to review processes after breaking banking rules

27th July 2022 Consumer Lending | #banking regulation

The Competition & Markets Authority (CMA) has rebuked the digital bank Monzo for failing to provide thousands of customers who were closing accounts with copies of their transaction histories. The CMA found that Monzo breached the Retail Banking Market Investigation Order between May 2021 and March 2022. The Order sets out that every customer must receive copies…

Six high street banks broke banking rules

25th July 2022 Arrears and Recoveries | #banking regulation

The Competition and Markets Authority (CMA) has said six banks have broken rules about keeping customers informed about changes to interest rates for overdrafts. Lloyds, NatWest, HSBC, Barclays, Metro Bank and Bank of Ireland all breached regulations, the regulator said. The high street banks broke the rules imposed by the CMA under the Retail Banking Market Investigation Order 2017. As a result…

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banking regulation

CMA orders Monzo to review processes after breaking banking rules

Six high street banks broke banking rules

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