This is quite an interesting statement from Miliband as the high street does indeed need more competition.
One of the main obstacles however will be that any new bank will have to obtain the relevent permissions from the FCA and this is easier said than done. Over the last few years, I can think of a number of banks that managed to secure funding but then fell at this hurdle.
Miliband promises two challenger banks amid major branch sell off | News | Mortgage Strategy
One of the main obstacles however will be that any new bank will have to obtain the relevent permissions from the FCA and this is easier said than done. Over the last few years, I can think of a number of banks that managed to secure funding but then fell at this hurdle.
Miliband promises two challenger banks amid major branch sell off | News | Mortgage Strategy
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