Banks came under fire yesterday for over-charging customers less than 24 hours after Treasury minister Ed Balls defended their profit record and asked what more the Government could do for them, reports the Daily Telegraph .
The criticism came from the Competition Commission in a scathing report on the way banks in Northern Ireland treated customers. It said competition for personal current accounts was restricted by complex charging structures and a reluctance among customers to shop around. Even the commission inquiry team members, headed by Christopher Clarke, chairman, confessed they had been baffled. The paper reports Clarke as saying: "It took us many months to understand what the charges are and how they are applied." He complained changes introduced during the inquiry by three of the four cleari...
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