The UK’s Competition and Markets Authority is expected to open an in-depth investigation into small- and medium-sized business banking services within days, say reports.
The probe will include checking account services, the CMA said in a statement, adding that it would issue a decision on whether to open the case on Thursday. The regulator first announced in July that it was considering an investigation into the market it suspects suffers from a lack of adequate competition.
Authorities have focused on the UK banking sector, run largely by just four institutions – Barclays, HSBC, Lloyds and RBS. Together, the banks control more than 90 percent of the small-business lending industry, according to reports.
The CMA announced last month that banks are violating competition rules by bundling bank accounts with small business loans.
Full content: Businessweek
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI