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Weak review into overdrafts leaves borrowers exposed to rip-off charges

Despite evidence that using an unplanned overdraft can cost seven times as much as a payday loan, the UK’s financial watchdog has once again failed to step in and ban banks’ rip-off charges.

Santander to scrap unarranged overdraft fees on fee-charging current accounts

Santander is the latest current account provider to overhaul its unarranged overdraft charges as the scrutiny on these fees –a major revenue generator for banks – intensifies from the Financial Conduct Authority.

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