Basic Search  |  Summaries  |  Advanced SearchPenalty: £1,820,000
Year: 2022
Date: 12 May, 2022
Offence Group: consumer-protection-related offences
Offence Type: consumer protection violation
Violation Description: National Westminster Bank Plc, Royal Bank of Scotland Plc, Ulster Bank Ltd and Coutts & Company (the NatWest Group banks) were fined £1.82 million for overcharging interchange fees on credit cards by treating the cards of 'commercial' cards rather than 'consumer' cards. The banks also reimbursed £1.75 million to customers.
Action Type: agency action
Settlement Type: Admission and early disposal
Agency: Payment Systems Regulator
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data: (click here)