Banks await results from CMA investigation

The Competition & Markets Authority (CMA) is expected to this week say that bank charges must be made clearer, sources have said.

The watchdog has carried out an investigation into the supply of personal current accounts and of banking services to small and medium-sized enterprises, the provisional results of which are due to be announced on Thursday.

It is anticipated that the CMA will call for new measures to make it easier for customers to switch between lenders, aiding competition between banks.

The final report is due to be published in April 2016.