Tagged: cma

UK Competition & Markets Authority Publishes Investigation into Retail Banking

The UK Competition and Markets Authority (CMA) has published its anticipated report on the retail banking sector. The document, entitled, “Retail Banking Market Investigation: Provisional Decision on Remedies,” is a 405 page document delivering a deep dive into the challenges of traditional banks. The CMA outlines… Read More

FCA Publishes Response to CMA on Payday Lending on Heals of Fine to Payday Lender Dollar

The Financial Conduct Authority has published their response to the Competition and Market Authority payday lending investigation.  The FCA said it had “worked closely with the CMA” regarding the market investigation.  The consultation paper is accepting feedback until January 28th, 2016.  The proposal by the… Read More

UK CMA Publishes Report on Banking Services for Consumers and SMEs: “For too long banks have been able to sit back and take their existing customers for granted”

The Competition and Markets Authority (CMA) has published its anticipated report on the state of retail banking in the UK.  Unlike the US market, the UK banking industry is almost completely served by several very large banks (RBS, Barclays, HSBC, Lloyds & Santander).  These are… Read More

FCA: Banking Sector Does Not Meet Needs of Small Business

The Financial Conduct Authority (FCA), the UK regulatory body entrusted with the operations of the securities industry, has released a statement declaring the retail banking industry “does not meet the needs of personal consumers or small and medium enterprises (SMEs)”. It should be noted that… Read More

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