Bank bodge sees regulator give in to BIG FOUR by refusing to cap fees charged for accounts and overdrafts
Inquiry was a chance to challenge the dominance of the big four banks, which control 77 per cent of all current accounts
ANOTHER toothless regulator inquiry, another fudged verdict that will scarcely benefit customers.
Yesterday the CMA tamely capitulated to the powerful banking lobby by refusing to cap the fees charged for accounts and overdrafts.
The inquiry was a chance to challenge the dominance of the big four banks, which control 77 per cent of all current accounts.
Instead, the CMA just recommended they build a new website and phone apps to encourage account-switching.
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Like the meek energy regulator report last week, the CMA is kidding itself if it thinks people have the time and inclination to search regularly for new deals.
Brits need a regulator that can stand up for their interests in the face of overmighty banks and set proper caps on their extortionate fees.
Clearly the CMA is not up to the job.
Chinese burn
THERESA May must not allow China to bully her into accepting a shoddy deal on Hinkley Point.
The Chinese ambassador has warned the PM to approve the nuclear power station plans “as soon as possible”.
But it’s no surprise Mrs May is nervous about giving China responsibility for building Britain’s energy infrastructure.
Government computers and British firms are regularly subject to cyber attacks from Chinese-based hackers looking to steal information and ideas.
While good relations with China are important, UK security cannot be put at risk for such a flawed, costly project.
We say ignore China’s sabre-rattling and pull the plug on Hinkley, PM.
Twisted justice
IT’S enough to make you sick.
A Romanian man who beat a 70-year-old to death with a hammer before moving to Britain has won the right to stay in the UK and could get thousands of pounds in compensation.
Barmy judges ruled the Government’s attempts to deport the fiend on grounds of public safety would leave him open to “emotional distress”.
They should be more concerned with the distress of having a jobless, alcoholic hammer-murderer roaming the streets.
Still Premier
REMEMBER we were told Brexit would destroy the Premier League?
Yesterday Man Utd signed the world’s most expensive player while Man City bought the second most expensive defender in football history.
With world-class players, and managers such as Guardiola and Mourinho, the league is as strong as ever.
Another EU myth busted.
