Banking Industry Competition Probe Ordered

The video discusses the investigation by the Competition and Markets Authority into the UK banking sector, focusing on the dominance of major banks like Lloyds, RBS, Barclays, and HSBC. These banks control a significant portion of personal and business accounts, leading to limited consumer choice. New entrants like Metro Bank and supermarkets are trying to gain market share, but consumer reluctance to switch banks remains a challenge. Political figures have suggested breaking up big banks, but regulatory support is uncertain. The investigation's findings could take two years, prolonging uncertainty for shareholders.

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