UK competition authority requires Metro Bank to refund £11.4 million of overdraft fees

The UK Competition and Markets Authority (CMA) has told Metro Bank to refund £11.4 million of overdraft fees to its customers because the bank did not provide adequate warning to its customers about these overdraft charges.

Around 130,000 Metro Bank customers will receive refunds.

Metro Bank is a UK-based retail and commercial bank. It was launched in 2010, and was the first of the number of new UK banks that have launched since then.

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Categorized as UK