Competition Markets Authority
August 31
09:01
2022
Details
In 2002, NatWest (then Royal Bank of Scotland) gave legally-binding undertakings that they would no longer (except for in specific circumstances) make small and medium-sized enterprise (SME) customers open or maintain a business current account in order to get a business loan or a deposit account. This practice is commonly known as bundling.
Following an investigation, the Competition and Markets Authority (CMA) concluded that NatWest has breached the undertakings. The CMA has issued NatWest with written directions designed to improve its compliance with the undertakings.
The CMA also publishes an annual report on compliance with the 2002 behavioural undertakings.