Twenty more banks are in discussions with the Prudential Regulation Authority about receiving a licence to launch in the UK. Regulators have approved 14 new banks since 2013 when rules were changed to encourage competition in the retail sector.
Twenty more banks are in discussions with the Bank of England about receiving a licence to launch in the UK. Regulators have approved 14 new banks since 2013 when rules were changed to encourage competition in the retail sector.