Tag Archives: overdraft

Nationwide will return more than £6m to more than 320,000 customers after the Competition and Markets Authority found that the bank had failed to alert the customers before charging them for unarranged overdrafts.  The CMA introduced an order in February last year stating that bank customers with personal current accounts must …

The bureau published a notice in the Federal Register and is seeking public comments by July 1. It’s unclear whether the bureau would support changing or eliminating the overdraft rule. In an emailed statement, the bureau said that during the review, it must seek information to see whether it could …

Nationwide is to hike its interest rate on overdrafts for a majority of customers in response to a clampdown from regulators that was intended to stamp out rip-off fees. Costs will rise for two-thirds of Nationwide customers who borrow through an overdraft, after the building society said it will introduce …