Four UK high street banks broke retail competition rules, watchdog says
Four high street banks, HSBC, Lloyds, TSB and Allied Irish Bank (AIB), broke Britain's competition rules, the Competition and Markets Authority said in a statement on Thursday. It did not set out any financial penalties for the breaches, which covered various sections of the Retail Banking Order that sets out banks' obligations to inform customers about their products and services. The banks were issued with a letter informing them of the breaches.