In the last two years, the Competition and Markets Authority (CMA) has secured more than £47 million in refunds for customers whose banks failed to properly warn them about unarranged overdraft charges.
Barclays and Santander have seen profits drop dramatically in the first quarter of 2020 as the two banks prepare for the economic difficulties stemming from the coronavirus pandemic. Profits at Barclays have dropped by 38% as its pre-tax profits for the three months to March stood at £913 mill
Lloyds Banking Group has purchased Tesco Bank's mortgage book for £3.5 billion. The purchase emerges after a ferocious price war which led Tesco to abandon the mortgage market. Lloyds successfully beat competing bids from rivals Santander and Royal Bank of Scotland.