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Bank Of England's Bailey Says Free Banking May Have To End

Wednesday, May 23, 2012 - 7:45 PM
Public intervention could increase competition in UK banking and end the "dangerous myth" of free accounts, which may be fuelling product mis-selling, a top Bank of England official said on Thursday. Bailey said the free banking enjoyed by customers in Britain when not overdrawn makes it hard to link costs to products and services received.
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