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UK competition probe says free banking not the problem

It did not find evidence of excessive profits, recommends measures to make it easier to compare costs of accounts

Published Thu, Oct 22, 2015 · 09:50 PM
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London

BRITAIN'S banks will not be broken up or forced to ditch free banking services to improve competition in the industry, alleviating the fears of the country's dominant lenders.

The Competition and Markets Authority (CMA) instead recommended measures to make it easier for Britons to compare the full costs of accounts, telling banks on Thursday to provide clearer information.

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