OFT says major change still needed in personal current account market

[Legal Beagles]

A review of the personal current account market has concluded that further significant changes are still required to tackle longstanding competition concerns and a lack of focus on customers’ needs.

More...

[enaid]

Re: OFT says major change still needed in personal current account market

Clive Maxwell, OFT Chief Executive, said:
'Personal current accounts are critical to the efficient functioning of the UK economy. Despite some improvements, this market is still not serving consumers as well as it should.
'Customers still find it difficult to assess which account offers the best deal and lack confidence that they can switch accounts easily. This prevents them from driving effective competition between providers.


No **** Sherlock lol it must be awful to be as clever as these people