FT – UK banks face full industry inquiry

Last updated: July 18, 2014 7:19 am

Pedestrians walk by shops on the high street Guildford, UK©Bloomberg

Britain’s biggest high street banks face the threat of being broken up after the UK competition authorities announced their intention to conduct a wide-ranging probe amid growing frustration among politicians, consumers and small businesses at the lack of competition between them.
Before the markets opened on Friday, the Competition and Markets Authority confirmed it had provisionally decided to launch a full-blown competition review into the UK banking sector. Read more

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