Correspondence
CMA takes action against NatWest for breaching Part 3 and Part 8 of the Retail Banking Order
CMA finds breaches of Part 3 and Part 8 of the Retail Banking Market Investigation Order 2017 and NatWest has agreed to take action to prevent a recurrence.
Documents
Details
NatWest breached the Order by failing to publish service quality information posters prominently in 24 NatWest branches and 2 Ulster Bank branches between 15 August 2022 and 12 January 2023. It also failed to publish posters prominently in nine NatWest branches and one Ulster Bank branch between 15 February 2023 and March/April 2023.
NatWest breached the Order by, between 1 November 2022 and 24 January 2023, publishing the interest rate for SME loans instead of the APR on one webpage for each of these three brands within its group: NatWest; Royal Bank of Scotland; Ulster Bank.
Published 15 August 2023