U.K. Banks Face Cap on Overdraft Fees, Regulator Says

  • Regulator issues provisional findings following investigation
  • Probe was extended after lawmakers called first attempt ‘lazy’

A customer uses an automated teller machine outside a bank branch in London.

Photographer: Simon Dawson/Bloomberg

Given a second chance to get tough on banks, the U.K. antitrust regulator outlined a cap on fees on customers who spend more than they have in their checking accounts, a proposal criticized as too little, too late by consumer groups.

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