Bundling warning from the CMA

The CMA has published a letter which highlights an issue related to implementation of the Bounce Back Loan Scheme at pace.

In 2002, a number of banks entered into undertakings with the CMA which confirmed that they would not have procedures in place which resulted in bundling (the act of requiring business customers to have a current account with a lender as a condition of that lender lending to them).

Lenders should continue to mindful of these undertakings in all practices related to their business banking customers.