RBC fined $4.25 million for making inaccurate credit card claims (opens original article in a new tab)

Royal Bank of Canada was fined $4.25 million for providing inaccurate credit card statements to 227,947 customers, resulting from failed credit transfers and additional charges.

• RBC fined $4.25 million by FCAC for inaccurate credit card statements
• 227,947 accounts impacted due to failed credit transfers and additional charges
• FCAC cited inadequate control procedures as root cause of violations