Land said: “Nearly 150,000 people were affected by these banks’ breaches, with the majority being former Monzo customers. This may have made things harder for people trying to borrow money or apply for a mortgage.”
He continued: “The CMA’s work in the sector is making it easier for people to get a better deal from their bank. Banks must comply with all the rules – that includes providing a full transaction history promptly.”
Land added: “We will be watching closely to make sure these leading names stick to their word and don’t let their customers down again.
“The Bank of Ireland, Monzo, NatWest Group, and Virgin Money should be in no doubt that the CMA stands ready to take further action if these failures are repeated.”
Express.co.uk has contacted Monzo, Bank of Ireland, NatWest Group and Virgin Money separately for comment regarding the outcome of the CMA’s intervention.