Charles Gifford, FleetBoston's chief executive, said in a statement that "any activity which disadvantaged customers is offensive, even though limited to a small number of individuals".
Mr. Lhota, who announced after the meeting that he would resign from the authority to explore a run for New York City mayor, argued in his letter that the pay-per-ride bonus "addresses concerns about the affordability of transit for our most economically disadvantaged customers".
"It affects disadvantaged people disproportionately".
This reduced the group's 2013 operating profit, but no customers have been disadvantaged by this, the insurer said.
We have fixed the issues, improved our systems and controls, and ensured no customers have been disadvantaged.
It will promote an environment that is consistent with effective competition; it will challenge abusive monopoly behaviour, take steps to promote competition where customers are being disadvantaged (for instance, in retail banking) and promote long-term investment rather than the casino capitalism that has disadvantaged the UK's economy and social cohesion".
We have taken actions to ensure customers have not been disadvantaged and we have cooperated fully with the FSA to ensure the appropriate corrective action".
"We want to make sure that the banks have resilient IT systems in place that are able to cope with consumer demand, so customers aren't left financially stranded or disadvantaged".
"Discriminatory practices may harm competition," the authority said, "when customers of a company holding a dominant position find themselves disadvantaged in the competition on their own market".
"The extent to which these industries are ultimately disadvantaged depends on the extent to which they are able to pass costs on to customers," the research noted.
The Competition and Markets Authority has been looking into whether customers who stay loyal to banks, insurers and mobile phone and broadband providers companies are being disadvantaged.
