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FCA cracks down on 'dysfunctional' overdraft market

By Sean Farrell

Date: Friday 07 Jun 2019

(Sharecast News) - The City regulator has announced a clampdown on overdraft charges to fix a "dysfunctional" £2.4bn market that punishes vulnerable customers.
The Financial Conduct Authority said more than half of banks' unarranged overdraft fees were paid by just 1.5% of customers in 2016 and that people from deprived areas...

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