UK banks to face competition inquiry
A full competition inquiry into retail and business banking services has been launched by the UK's Competition and Markets Authority (CMA).
The probe, first proposed in July, will investigate the difficulties customers face in switching banks, and the lack of smaller competitors to the 'big four' High Street names.
It will also look at lending to small and medium-sized businesses.
The banking industry has said before that it will co-operate with a review.
But it has argued that changes to its practices are already underway.
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