Correspondence
CMA letter to Nationwide on breaches of the Retail Banking Order
Letter to Nationwide Building Society about its non-compliance with Part 6 of the Retail Banking Market Investigation Order 2017, relating to Alerts.
Documents
Details
The CMA wrote to Nationwide Building Society regarding breaches of Part 6 of the Order. Nationwide breached the Order by failing to send out text alerts containing wording that customers would be charged for entering an unarranged overdraft. Nationwide will repay around £900,000 in charges to the 70,000 customers affected.
See the retail banking market investigation case page for information on the investigation and the order.