GovWire

Correspondence: CMA takes action against Metro Bank for breaching Part 7 of the Retail Banking Order

Competition Markets Authority

July 22
08:57 2022

Details

Part 7 of the Retail Banking Order requires banks and building societies to specify the Monthly Maximum Charge (MMC) that could accrue in relation to a Personal Current Account (PCA) in any month as a result of exceeding or attempting to exceed a pre-agreed credit limit on a PCA. Metro Bank breached Part 7 of the Order by charging 92 customers more than its 60 MMC.

Metro Bank has refunded affected customers and has taken steps to prevent a recurrence.

Published 22 July 2022

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