The Treasury Committee took evidence from the Chief Executive of the Office of Fair Trading, John Fingleton for its inquiry into Competition and Choice in the Banking Sector.
On Thursday 20 January The Committee took evidence from;
- John Fingleton, Chief Executive, Office of Fair Trading
- Clive Maxwell, Executive Director, Office of Fair Trading
The financial crisis had a major impact on the shape of the banking sector. There has been widespread consolidation among banks and building societies.
Concerns have been raised that competition in the sector is not working, with investigations by the Office of Fair Trading into unauthorised overdraft charges and equity underwriting. The Government has also appointed an Independent Commission on Banking.
This inquiry builds on work done by the Committee in the previous Parliament on the banking crisis, the structure of the banking industry, and consumer issues.