REUTERS - Reuters

Italy Fines Revolut €11.5M for Unfair Commercial Practices Italy's competition authority fined Revolut over 11.5 million euros ($13.25 million) for alleged unfair commercial practices. The fines include 5 million euros each for misleading investment service statements and aggressive management of banking services, and an additional 1.5 million euros for unclear information on bank account transitions. Revolut, headquartered in London and operating under a Lithuanian license, plans to appeal the decision, asserting compliance with Italian banking rules and that the ruling will not affect its operations or financial standing. The company emphasizes its commitment to clear communication and customer protection.