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Antitrust Enforcer Threatens Action Over Loyalty Penalties

Law360, London (December 19, 2018, 7:35 PM GMT) -- Regulators and the government should take firmer enforcement action in financial services markets over the next year to stop companies from overcharging long-standing customers, including instituting price caps and naming and shaming businesses that didn't shape up, the Competition and Markets Authority said Wednesday.

Britain’s antitrust enforcer said urgent measures, such as imposing price caps, should be put in place after it investigated five markets and found that businesses are using harmful practices to exploit millions of customers.

The watchdog said it had made recommendations to regulators and the government to help protect loyal consumers. The CMA also warned that it...

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