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UK: With full-scale probe ahead, small business loans come under spotlight

By  |  July 17, 2014

Reports confirmed Thursday that the UK’s Competition and Markets Authority will initiate a full-scale investigation into Britain’s banking industry, but the most recent reports say that small business lending faces particular competition scrutiny.

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    The CMA will not publish the findings of its preliminary inquiry into the industry until Friday, but the Financial Times reported Thursday that a full-scale investigation is planned.

    According to the Federation of Small Businesses, small businesses find it difficult to shop around for a loan; the FBS, which represents about 200,000 companies, is hoping for increased competition to enhance transparency in the industry.

    The CMA is said to be launching an in-depth probe into the entire banking industry, a case that will also look at how to handle the dominance of the four leading banks, Barclays, HSBC, Lloyds and RBS.

    Full content: Bloomberg

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