Mark Mullen, chief executive, Atom Bank says:
“Atom wholeheartedly welcomes today’s announcement from the FCA because taking further action to increase competition in banking is exactly what customers both need and expect. That the FCA feels the need to undertake further investigations into the practices of banks raises questions about the efficacy of the recent CMA investigation into Current Account competition. Why must we continue to wait for years for things to improve? This glacial pace of change is at odds with how customers and taxpayers alike expect to be treated”.