PolicyPulse.pro identifies the news that matters most to your company and helps you understand the business impact.
CMA Investigates HSBC Over Incorrect Value Publication on Devices
25.07.2024 | 🇬🇧 UK competition authority
HSBC is under scrutiny for mistakenly displaying a higher Monthly Maximum Charge on some devices, breaching regulations.
The Competition and Markets Authority (CMA) has raised concerns about HSBC breaching Part 7 of the Retail Banking Order by incorrectly stating the Monthly Maximum Charge (MMC) on certain multi-function devices.
According to the regulations, customers should not be charged more in un-arranged overdraft fees than the specified MMC. However, between October 27, 2023, and February 28, 2024, 310 devices showed an incorrect MMC of £35 instead of the actual £20.
Terms of Service | Refund Policy | Privacy Policy | Coverage
© 2024 PolicyPulse. All rights reserved.
See something you like or don't like? Let us know!