Treasury select committee chair Nick Morgan says the charges 'fly in the face' of attempts to make overdrafts more transparent.
Lloyds Bank announced in January a tiered overdraft system where fees will rise for anyone borrowing less than £4,100MPs have criticised Lloyds Bank for a"complex" overdraft fees structure announced in January, saying it will see fees increase for anyone borrowing less than £4,100.
The rebuke by MPs comes as the Financial Conduct Authority has been looking at ways to simplify overdraft fees and make them fairer. Commenting on the correspondence, Mrs Morgan said:"The FCA's proposals seek to simplify overdrafts by banning tiered charging systems as early as December.
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