OFT warns significant change needed in current account market – The Guardian

Posted January 25th, 2013 in banking, competition, news by tracey

“More competition is needed among providers of current accounts, the Office of Fair Trading said on Friday after finding the major banks had increased their dominance in the £9bn market. The OFT said ‘significant further’ changes were required as it warned that the market was not ‘working well for consumers or the wider economy’but decided against a full referral to the Competition Commission. It will conduct another review in 2015.”

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The Guardian, 25th January 2013

Source: www.guardian.co.uk