‘Crunch time’ for Britain’s big four banks as competition inquiry launched

Guardian – Britain’s major banks are to be subjected to an 18-month investigation into how they treat their small business and personal customers in a move welcomed by consumer bodies and the new entrants trying to break the stranglehold of the “big four”.

Alex Chisholm, the head of the Competition and Markets Authority (CMA), is to embark on the most detailed analysis of the sector for a decade after concluding that customers are not getting a good enough deal from the major high street players. Major banks could be broken up and it could signal the end of free banking for current accounts.

Read Complete Article

This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply