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Violation Tracker UK Individual Case

Company: Metro Bank plc
Current Parent CompanyMetro Bank PLC
Parent at the Time of the Penalty Announcement: Metro Bank PLC
Penalty: £11,400,000
Year: 2020
Date: 20 April, 2020
Offence Group: financial offences
Offence Type: banking violation
Violation Description: 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.
Action Type: agency action
Settlement Type: CMA deferred formal enforcement action if company continued curing alleged breach.
Agency: Competition and Markets Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
Source of Data(click here)