The Competition and Markets Authority has said that bank charges such as overdraft fees may be "cross-subsidising" bank accounts that are free if in credit, and that offering these accounts for free "may distort competition".
The CMA says removing "free if in credit models" may lead to greater transparency and moves towards "more cost-reflective charging structures". Telegraph.
Well Said, Stephen.
STEPHEN GLOVER: Only Rupert Lowe can save us from a monstrous coup. The trouble is he's self serving, arrogant and a political extremist...
