Review of Part 6 of the Retail Banking Market Investigation Order 2017

Jul 3rd '19

The Competition and Markets Authority (CMA) has launched a review of Part 6 of the Order relating to unarranged overdraft alerts.


The CMA has decided to conduct a review of Part 6 of the Retail Banking Market Investigation Order 2017 (the Order). Part 6 of the Order delivers the programme of overdraft alerts with grace periods for PCA customers.


The Financial Conduct Authority (FCA) announced on 18 December 2018 rules on overdraft alerts, which enter into force on 18 December 2019. Further, on 7 June 2019 the FCA announced reforms to the way banks charge for overdrafts. The CMA consider that from 18 December 2019 Part 6 of the Order will be superseded. The CMA anticipated the FCA taking responsibility for overdraft alerts at the time that it published its Market Investigation report. Following confirmation from the FCA that it proposes to make its reforms, the CMA has now taken the decision to launch this review on the grounds that there is a realistic prospect of finding that a change of circumstances has taken place.


The CMA is asking interested parties for their views on whether publication of the FCA’s proposals constitutes a change of circumstances which mean that, when they come into effect, Part 6 of the Order will be effectively superseded.


Any comments, plus supporting evidence, should be sent in writing to the CMA by 5pm on Monday 22 July. We will then consider the views and evidence received before reaching a provisional decision.




Retail Banking Order review team
Competition and Markets Authority
Victoria House
Southampton Row
London WC1B 4AD




Source: CMA