UK banks to be investigated by competition watchdog

Lloyds, RBS, Barclays and HSBC still dominate more than three-quarters of the current accounts market

High Street Banks
(Image credit: STAFF/AFP/Getty Images)

Britain’s banks are facing an in-depth investigation to see if the most dominant lenders are stifling competition.

The Competition and Markets Authority (CMA) has launched an inquiry into the personal current account and small business retail banking sectors.

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