LONDON, July 25 (Reuters) - Four high street banks,
HSBC ( 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. Lloyds, AIB and TSB have confirmed they are making
changes to their operations to prevent further breaches, the CMA
said.
HSBC ( HSBC ) was considered to have breached the rules more
extensively and has been issued with details of an action plan
to ensure future compliance, the CMA added.