Basic Search  |  Summaries  |  Advanced SearchPenalty: £6,000,000
Year: 2019
Date: 8 August, 2019
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 £6 million.
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)