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Competition watchdog calls for cap on bank overdraft fees

Banks should be required to cap the amount they charge customers for unplanned overdrafts.

That's the recommendation from the Competition and Markets Authority, which is proposing a maximum monthly charge.

It also wants to make it easier for customers to know if they are getting a poor deal from their banks.

In 2014, banks made £1.2bn from overdraft fees.

Simon Gompertz reports.

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