Retail Banking Market Investigation Order 2017
The order implements the reforms set out in the Competition and Markets Authority鈥檚 (CMA) retail banking market investigation report.
Documents
Details
This order was made under the market investigation provisions of the Enterprise Act 2002.
The CMA鈥檚 retail banking market investigation identified a number of competition problems in both the personal current account (PCA) and small and medium-sized enterprise (SME) banking markets. The order is part of a package of remedies designed to address these problems.
The order sets out the timetable for introducing advances such as open banking, the monthly maximum unarranged overdraft charge, standardised business current account (BCA) opening procedures, and banks having to publish service quality statistics.
Updates to this page
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Notice of approval of changes to the agreed timetable and project plan published.
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Notice of approval of certain changes and requirement for additional changes to the Agreed Timetable and Project Plan published.
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Notice of determination of further exception to the order (December 2019) published.
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First published.