Vickie Sheriff, Which? Director of Campaigns & Communications said:
“We welcome this commitment to review punitive unarranged overdraft fees, which our research has found can be more expensive than some payday loans. It’s also good to see the FCA moving swiftly to research and test some of the CMA’s other banking remedies that could bring real benefit to consumers.”
More information on research into payday lenders and overdraft charges here.