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UK banks to face competition inquiry

A competition inquiry that could result in a major shake-up of banks' current accounts and small business banking has been launched.

The probe, first proposed in July, has now been confirmed by the Competition and Markets Authority (CMA).

It will investigate the difficulties customers face in switching banks, the lack of smaller competitors to the "big four" banks, and lending to businesses.

Kamal Ahmed reports.

  • 06 Nov 2014
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