Bank lobbyists are encouraging lawmakers to relax the barriers to entry of the banking industry to boost competition, according to reports.
Banking lobby group the British Bankers’ Association spoke Monday to champion the government to establish rules that would cap the size of banks and lower the cost for new competitors to enter the payments system.
The remarks were made ahead of the 2015 election, which has often focused on banking reform. The Competition and Markets Authority is reportedly considering a full market inquiry into the industry as five major banks account for more than three-quarters of the UK’s lending business.
”The best way to promote competition is by creating a more level playing field for players of all shapes and size,” the BBA’s director of strategy, James Barty, said Monday.
Additional reports said that officials are speaking with more than two dozen potential new banks as the government explores new ways to increase competition among lenders.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI