CMA writes to banks on Retail Banking Order breaches

The CMA has published details of breaches of the Retail Banking Market Investigation Order by both Barclays and Santander.

• Santander had failed to keep information published through Open Banking up to date and in some cases to publish it at all. The longest breach lasted for 7 years.  It discovered the breaches and self-reported, and is enhancing its processes and controls to include better understanding for relevant staff and better checks, so there will be no further action;
• Barclays had failed to provide Payment Transaction Histories, and, while it discovered and self-reported the breach, did not report the breach within the required timescales. Again, it has taken remedial action and introduced better controls, so there will be no further CMA action.