Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of the way in which Lloyds Bank have introduced changes to the structure of charges for unplanned overdrafts; what assessment they have made of the appropriateness of the timing of those changes; and what assessment they have made of the impact of those changes on customers.

Overdraft pricing is a commercial decision for firms, therefore HM Treasury does not make assessments of individual firms’ prices, the strategies for announcing those prices or the impact of those changes on customers.

In December 2018 the Financial Conduct Authority published a consultation on interventions in the overdraft market. This consultation has now closed and the final remedies are due to be published in June this year.