Markets
watchdog the Competition and Markets Authority (CMA) has recommended a full
competition inquiry into banks.
The
provisional decision recommends a full-scale inquiry into the banking sector
including the provision of current accounts and business lending.
The
process will start with a consultation, and the CMA will take a final decision
in the autumn.
The
banking industry said it would co-operate with the review, but that changes
were already underway.
Alex
Chisholm, CMA chief executive, told BBC Radio 4's Today programme it was
"vital" that the banking sector worked properly, which was why the
full eighteen month investigation was being proposed.
"At
the moment they don't seem to be
