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UK: Watchdog rules Free banking here to stay and big lenders to remain intact

By  |  October 21, 2015

Competition and Markets Authority expected to decide that charging customers would not make them better off.

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    Britain’s biggest banks will not be broken up by the regulators, the competition authorities are expected to say, arguing it would do little to encourage customers to shop around.

    The idea of splitting up the giant lenders was favoured by Labour’s ex-leader Ed Miliband, but that plan now appears to be gone for good.

    Lloyds Banking Group has already spun-off and sold TSB as an independent bank , under orders from the European Commission, while Royal Bank of Scotland is going through a similar process with Williams and Glyn. However, no more banks are expected to be forced to spin off other units.

    Full content: The Guardian

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