CMA confirms investigation into small business banking

The Competition and Markets Authority (CMA) has confirmed that it will perform an intensive investigation into banking services for small and medium-sized businesses, after a consultation that suggested  various concerns. This included difficulty among businesses  in assessing and acting upon information about banking services available to them, resulting in low levels of differentiation and relatively few businesses switching between providers. A group of independent CMA members will be appointed  to take responsibility for the investigation. The group will produce an investigation timetable and consult on what the key focus of the investigation should be.
Read more about the forthcoming investigation at:
https://www.gov.uk/government/news/personal-current-account-
and-small-business-banking-face-full-competition-investigation

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