Banks in spotlight as Financial Conduct Authority sets its sights on overdrafts - City A.M.

The Financial Conduct Authority (FCA) has shifted its gaze from payday lenders to overdraft providers, as the regulator set out its agenda for consumer credit this morning. Read more: No let up in consumer credit growth as the Bank of England eyes ...

FCA's sheriff rattles banks with probe of overdrafts - Financial Times

The Financial Conduct Authority used to patrol the boardrooms on its turf with the swagger of frontier sheriffs. Former chief executive Martin Wheatley notoriously promised to “shoot first and ask questions later”, before a political backlash deprived ...

FCA Calls for Radical Action Against Unarranged Overdraft Fees - Money Expert (blog)

The City watchdog is considering a range of options to protect customers against sky-high fees typically attached to unarranged overdraft use. Customers who go overdrawn without prior agreement with the bank often face daily charges of up to £6. Banks ...

Unarranged overdrafts could soon be banned as regulator vows to crack down on "exorbitant fees" for consumers - Mirror.co.uk

The City Watchdog has slammed banks for outrageous charges on unnarranged overdrafts – but has immediately come under fire for failing to do anything about it. The Financial Conduct Authority's review of high-cost credit concluded that “fundamental ...