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Competition and choice in the banking sector


The financial crisis had a major impact on the shape of the banking sector. There had been widespread consolidation among banks and building societies. Concerns had been raised that competition in the sector is not working, with investigations by the Office of Fair Trading into unauthorised overdraft charges and equity underwriting. The Government had also appointed an Independent Commission on Banking.

This major inquiry into Competition and choice in the retail banking sector built on work done by the Committee in the previous Parliament on the banking crisis, the structure of the banking industry, and consumer issues.

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We receive a significant number of emails each day. If you’ve asked for a reply, we’ll aim to respond as soon as we can, although during parliamentary recesses it may take slightly longer for us to respond. We’re usually able to reply more quickly to emails than to post. Please note, the Committee does not look at individual cases or specific complaints.