Barclays Ordered To Stop Loan Bundling Under CMA Order

Law360, London (July 4, 2019, 2:53 PM BST) -- Britain’s antitrust watchdog said Thursday it has ordered Barclays to improve the way it treats small business customers after the bank broke rules designed to protect them.

The Competition and Markets Authority said the command came after Barclays PLC failed to comply with part of a legal agreement designed to make it easier for small businesses to shop around and choose the best accounts and financial products for them.

The pledge, which Barclays and other lenders signed in 2002, included a ban on banks insisting that businesses open or hold current accounts before they are able to access other financial products....

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