Page 33 - TSB G Case Study

Competition &

Markets Authority

The Competition &

Markets Authority
(CMA) was formed on
1 April 2014 aiming
st
to “promote competition for the benefit of consumers,

both within and outside the UK. Our aim is to make

markets work well for consumers, businesses and the

economy.” (1)

However, new British banks have struggled to enter the

British current account market due to strict regulation

and high costs which restrict their ability to “challenge”

the UK’s dominant big retail banks – HSBC, Barclays,