RBC to pay back $22M in investment fees it overcharged.




The Royal Bank of Canada will pay almost $22 million in compensation to clients who were charged excess fees on some mutual funds and investments products.

The OSC(Ontario Securities Commission) said in a release that the settlement comes after a compliance review in 2015 found the bank had overcharged some of its customers “excess fees,”for their investments “that were not detected or corrected in a timely manner.”