CMA writes to Barclays and Tesco Bank on Retail Banking Order breaches

The CMA has written letters to Barclays and Tesco Bank regarding their breaches of the Retail Banking Market Investigation Order 2017.

Barclays’ breach relates to its failure to update a Service Quality Indicator (SQI) relating to Overall Service Quality (OSQ) for Personal Current Accounts (PCAs) in Great Britain. It failed to display the OSQ for August 2021 and mistakenly continued to display the OSQ for the previous period until 13 October 2021.

As for Tesco Bank, the firm failed to publish 3 SQIs in the correct place on its mobile banking app between 24 July 2021 and 21 September 2021.

In both letters, the CMA notes that the respective banks have taken action to end the breach and prevent a recurrence. As a result, the CMA does not consider it appropriate to take further formal enforcement action against either bank at this time.

Emma Bond