The Financial Consumer Agency of Canada issued an administrative monetary penalty notice to the Royal Bank of Canada. The agency said RBC breached consumer rules by making inaccurate claims about credit‑card benefits and fees. The penalty is £3.3 million, equivalent to $4.25 million. RBC confirmed it has paid the full amount. The FCAC said the fine is intended to protect Canadian consumers and to deter similar conduct. The case follows a series of regulatory actions against major banks for misleading marketing. The decision was announced on Thursday, 25 June 2026.
Latest News About RBC Pays $4.25m Fine for Credit Card Misleadings
Sources & References
-
Royal Bank of Canada ordered to pay $4.25M penalty for consumer violation - CTV News
Royal Bank of Canada ordered to pay $4.25M penalty for consumer violation CTV News
-
RBC fined $4.25 million for making inaccurate credit card claims - Financial Post
RBC fined $4.25 million for making inaccurate credit card claims Financial Post
-
Royal Bank of Canada ordered to pay $4.25M penalty for consumer violation - BNN Bloomberg
Royal Bank of Canada ordered to pay $4.25M penalty for consumer violation BNN Bloomberg
-
FCAC announces an administrative monetary penalty paid by the Royal Bank of Canada - The Globe and Mail
FCAC announces an administrative monetary penalty paid by the Royal Bank of Canada The Globe and Mail
-
RBC fined $4.25M by FCAC - Investment Executive
RBC fined $4.25M by FCAC Investment Executive