Library of Congress

Law Library of Congress

The Library of Congress > Law Library > News & Events > Global Legal Monitor

United Kingdom: Two Banks Found in Breach of Overdraft Alert Requirement, Must Refund Customers

(Dec. 20, 2019) Two banks with headquarters in the United Kingdom, HSBC and Santander, recently reached an agreement with the Competitions and Market Authority (CMA) to refund customers’ overdraft fees that were incurred after the banks breached Part 6 of the Retail Banking Market Investigation Order 2017 (the Order). This Order was made by the […]

China: Banks Ordered to Report Overseas Transactions of Chinese Bank Cards

(Aug. 10, 2017) In June 2017, China’s foreign exchange regulator, the State Administration of Foreign Exchange (SAFE), ordered banks in China to collect information, on a daily basis, of overseas transactions made on Chinese bank cards. Starting September 1, 2017, any overseas cash withdrawal or single purchase made with an amount of more than RMB1,000 […]