Saturday 19 July 2014
UK banks ‘have much to fear’: competition watchdog set to probe Lloyds, RBS, HSBC and Barclays
‘Barclays, RBS, HSBC and Lloyds may be forced to break up following a finance watchdog’s inquiry. The watchdog claims Britain’s banking sector is characterized by anti-competitiveness and a failure to meet ordinary citizens and small business’ needs.
Outlining its proposals for a sweeping 18-month investigation into Britain’s major banks, the newly-established Competition and Markets Authority (CMA) has eclipsed its predecessors who were unwilling to launch an inquiry of this nature until 2015.’
