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Violation Tracker UK Individual Case

Company: Nationwide Building Society
Current Parent CompanyNationwide Building Society
Parent at the Time of the Penalty Announcement: Nationwide Building Society
Penalty: £900,000
Year: 2020
Date: 6 February, 2020
Offence Group: financial offences
Offence Type: banking violation
Violation Description: The CMA informed Nationwide that it had broken the Retail Banking Market Investigation Order by failing to send text alerts to customers about to enter unarranged overdrafts that warned them they would be charged. The company was refunding all fees incurred by customers, estimated at £900,000.
Action Type: agency action
Agency: Competition and Markets Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: mutual
Major Industry of Parent: financial services
Specific Industry of Parent: building society
Source of Data(click here)