Lawmakers say competition in UK retail banking “non-existent”
An influential group of British lawmakers has attacked the British banking industry's lack of competitiveness.
In a report published on Saturday, the Treasury Committee said "the pre-conditions for effective competition in the retail banking market are not present".
Andrew Tyrie, the chairman of the committee, said: "The chief executives of the large incumbents told the committee UK retail banking was enormously competitive," he said. However, evidence from a wide range of expert sources gave a
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