HSBC, Santander to Refund Customers Over Breaches -CMA
29 Noviembre 2019 - 1:44AM
Noticias Dow Jones
By Adria Calatayud
HSBC Holdings PLC (HSBA.LN) and Banco Santander SA (SAN.MC) have
agreed to refund customers after they both broke a legal order, the
U.K.'s Competition and Markets Authority said Friday.
The refunds follow action by the CMA which found that HSBC twice
broke, and Santander six times, an order that requires lenders to
send text alerts before charging customers for going into an
unarranged overdraft, the regulator said.
HSBC has agreed to refund 8 million pounds ($10.3 million) to
115,000 customers, while Santander has yet to confirm the number of
customers affected and how much it will refund, the CMA said.
The breaches first occurred in February 2018 and the refunds
paid by the banks cover all fees incurred by customers from going
into unarranged overdrafts where they hadn't been warned beforehand
by the required text alerts, the regulator said. The CMA said it is
also directing HSBC and Santander to undertake an independent check
of their compliance with the regulation between February 2018 and
December 2019.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
November 29, 2019 02:29 ET (07:29 GMT)
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