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

COPENHAGEN (Reuters) – Danske Bank (DANSKE.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 bank said last year 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.