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Competition regulator's grilling on banks was exquisite torture

Houses of Parliament

Inquiries into the banking sector have arrived at a rate of about one a year for the past couple of decades, but has any been as feeble as this summer’s offering from Competition and Markets Authority? That was the one that concluded that a few tweaks, like better price comparison websites and a voluntary cap on overdraft charges, might succeed where stiffer remedies had failed in the past to boost competition.

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