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Banking sector needs greater competition, says UK watchdog

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Published Wed, Feb 11, 2015 · 09:50 PM

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MOVES to improve competition within Britain's banking industry have not yet had the desired effect, the head of the competition watchdog said, raising the prospect that the country's biggest banks could be broken up.

The Competition and Markets Authority (CMA) is investigating the market for personal current accounts and small business banking services and will decide what measures must be taken by May 2016.

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