Retail banks not competitive, says Treasury committee

Gerald · 04-02-11, 07:13 AM

Retail banking in the UK is not competitive enough, a Commons Treasury committee report has concluded.

The cross-party group of MPs said there was a lack of price transparency between current accounts at different banks and it was too difficult for customers to move their accounts.

The committee said similar barriers existed for small business customers.

The British Bankers' Association said the industry was working with regulators to improve competition.

http://www.bbc.co.uk/news/business-12935228

Note: 2 April 2011 Last updated at 10:21 GMT

04-02-11, 07:13 AM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Retail banks not competitive, says Treasury committee Retail banking in the UK is not competitive enough, a Commons Treasury committee report has concluded. The cross-party group of MPs said there was a lack of price transparency between current accounts at different banks and it was too difficult for customers to move their accounts. The committee said similar barriers existed for small business customers. The British Bankers' Association said the industry was working with regulators to improve competition. http://www.bbc.co.uk/news/business-12935228 Note: 2 April 2011 Last updated at 10:21 GMT __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie