Metro Bank plc
Metro Bank PLC
Metro Bank PLC
11400000
2020
20200420
financial offences
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Metro Bank was found to have broken the CMA's Retail Banking Market Investigation Order by failing to send text alerts before charging customers for unarranged overdrafts. It committed to refunds for those customers estimated to total £11.4 million.
agency action
CMA deferred formal enforcement action if company continued curing alleged breach.
UK-CMA
Competition and Markets Authority
United Kingdom
publicly traded
financial services
banking
GB00BZ6STL67
https://www.gov.uk/government/news/metro-bank-customers-receive-10-5m-overdraft-fee-refund
UK21-212
Metro Bank plc
Metro Bank PLC
Metro Bank PLC
5376000
2021
20211222
financial offences
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The Prudential Regulation Authority imposed a financial penalty on Metro Bank plc of £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance, controls and investment with respect to its Common Reporting returns.
agency action
UK-PRA
Prudential Regulation Authority
United Kingdom
publicly traded
financial services
banking
GB00BZ6STL67
https://www.bankofengland.co.uk/news/2021/december/pra-fines-metro-bank-5376000-for-failing-in-its-regulatory-reporting-governance-and-controls
UK21-65909
Metro Bank
Metro Bank PLC
Metro Bank PLC
20773
2022
20220722
consumer-protection-related offences
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The CMA noted that Metro Bank breached the Retail Banking Market Investigation Order 2017 by charging customers above its specified Monthly Maximum Charge for exceeding credit limits on accounts. The bank self-reported the breach and refunded £20,773 in overcharges plus interest.
agency action
UK-CMA
Competition and Markets Authority
United Kingdom
publicly traded
financial services
banking
GB00BZ6STL67
https://www.gov.uk/government/publications/cma-takes-action-against-metro-bank-for-breaching-part-7-of-the-retail-banking-order
UK21-75010
Metro Bank PLC
Metro Bank PLC
Metro Bank PLC
10002300
2022
20221212
financial offences
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Metro Bank was fined £10 million in a finding by the FCA that the bank knowingly misreported its prudential position, publishing unqualified information that it knew would require a substantial revision and thus failing to take reasonable care to ensure its financial reports were not false or misleading.
agency action
UK-FCA
Financial Conduct Authority
United Kingdom
publicly traded
financial services
banking
GB00BZ6STL67
https://www.fca.org.uk/news/press-releases/fca-fines-metro-bank-plc-decision-notices-two-former-executives
UK21-83196
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