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CMA Investigates Lloyds for Breaching Retail Banking Order
25.07.2024 | 🇬🇧 UK competition authority
The Competition and Markets Authority (CMA) has raised concerns about Lloyds Banking Group's failure to comply with requirements to release accurate ATM location information through the Open Banking system.
The Competition and Markets Authority (CMA) has notified Lloyds Banking Group about breaching Part 2 of the Retail Banking Order, which mandates the release of accurate and up-to-date ATM location information through Open Banking.
Lloyds failed to provide the location details of 363 ATMs via Open Banking between December 7, 2023, and January 12, 2024, violating the Order's provisions.
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