FCA announces proposals to fundamentally reform the way banks charge for overdrafts and extends protections for other high-cost credit products

Regulatory Updates | 18/12/18

The Financial Conduct Authority (FCA) has today announced the next package of measures forming part of its high-cost credit review. It has announced proposals to change how banks charge for overdrafts, which would bring to an end to banks charging higher prices for unarranged overdrafts. Alongside this the FCA has published the results of its review into the retail banking market.