News and Announcements

FCA to ban excessive overdraft fees in 'once-in-a-generation' shake up

By Abigail Townsend

Date: Tuesday 18 Dec 2018

(Sharecast News) - The Financial Conduct Authority is cracking down on the UK's "dysfunctional" £2.4bn overdraft market, including banning banks from charging higher fees for unauthorised borrowing.
The financial watchdog said that in 2017, banks made £2.4bn from overdrafts, with around 30% coming from unarranged overdrafts; in 2016, more than 50%...

Sign up for free or to read the full story

Email this article to a friend

or share it with one of these popular networks:


Article Archive

Top of Page