UK competition body says customers paying too much for banking services

London

BRITAIN'S competition watchdog has published its final recommendations for boosting competition in high street banking, its measures not differing significantly from options it published in May to widespread dismay among consumer groups.

The government and regulators have already taken steps to boost competition in a sector dominated by Lloyds Banking Group, Royal Bank of Scotland, Barclays and HSBC, which control more than three-quarters of current accounts and provide nine out of 10 business loans.