The Competition and Markets Authority (CMA) announced its decision last week to launch an in-depth market investigation into the personal current account and small business banking sectors to audit their competitiveness. The probe, first proposed in July, is intended to investigate the difficulties customers face in switching banks, the lack of smaller competitors to the “big four” banks (Barclays, Lloyds, HSBC, and NatWest), and lending practices to businesses.

Please see the attached CMA Client Adivsory for the full analysis.​ 

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