UK Regulatory Authority: HSBC and four other major banks violated retail competition rules
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The Competition and Markets Authority (CMA) in the UK stated that HSBC, Lloyds, TSB, and United Bankshares have violated the UK's retail competition rules. However, CMA did not impose any financial penalties for the violations. Lloyds, United Bankshares, and TSB have mentioned that they are making adjustments to their operations to avoid further violations. HSBC is considered to have violated the regulations more extensively and has released details of an action plan to ensure compliance in the future
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