RBC fined more than $4-million for providing inaccurate credit card statements

The Royal Bank of Canada has been fined $4.25 million by the Financial Consumer Agency of Canada for issuing inaccurate credit card statements to over 227,000 customers. These inaccuracies, concerning credited or charged amounts, occurred between 2001 and 2024, leading RBC to transfer and refund more than $22.4 million. RBC self-reported the issue and fully cooperated with the regulator.

• •RBC fined $4.25 million for inaccurate credit card statements.
• •Over 227,000 accounts affected by statement errors.
• •RBC refunded and transferred over $22.4 million to affected customers.