A person walks past the RBC building in Montreal.Christopher Katsarov/The Canadian Press
Canada’s financial consumer watchdog says the Royal Bank of Canada RY-T was fined more than $4-million for providing inaccurate credit card statements to some customers.
The Financial Consumer Agency of Canada says it issued a fine of $4.25-million in March, which the bank paid in April.
It says RBC provided credit card statements with wrong information about amounts credited or charged between 2001 and 2024.
The agency says a total of 227,947 accounts were affected and that RBC transferred and refunded more than $22.4-million.
Nathaniel Wallace, a spokesperson for RBC, says the lender takes its regulatory obligations seriously.
He says RBC self-reported the matter to the financial consumer watchdog and that RBC has fully co-operated with the regulator throughout the process.