Let us hope that the regulators make the right decision, in the interests of bank users, rather than their operators.
High street banks will learn this week whether regulators intend to press ahead with proposals to cap overdraft charges in an attempt to make it easier for customers to switch current accounts.
The Competition and Markets Authority (CMA) is due to publish provisional recommendations from its delayed investigation into retail banking on Tuesday. It will be followed by a month’s consultation before a final ruling.
The watchdog is also expected to say whether it will want two banking price comparison websites set up. Besides a site for retail customers, an additional one for small businesses could be created under the auspices of innovation charity Nesta. Banks could be required to contribute millions of pounds to a prize fund for the development project.
Join the Vox Political Facebook page.
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Buy Vox Political books so we can continue
fighting for the facts.
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here: