Danske Bank to pay up to $16 million in total to overcharged customers By Reuters


© Reuters. FILE PHOTO: A Danske bank sign is seen on a bank’s headquarters in Copenhagen

COPENHAGEN (Reuters) – Danske Bank (CO:) will compensate about 900 customers up to 100 million Danish crowns ($15.93 million) in total after overcharging them for investment products, it said on Friday.

The overcharging was discovered after review of a similar case, Danske said.

The bank last year said that it had failed to inform customers it expected poor performance from its Flexinvest Fri investment product and continued to sell it to new customers after raising fees associated with it in 2017.

(This story corrects to make clear compensation related to new case, not Flexinvest Fri)

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