LONDON, July 17 (Reuters) - Britain's new competitionwatchdog said it plans to launch a full investigation intobanking services for small businesses and personal currentaccount customers later this year after finding a lack ofcompetition among the big banks.
The Competition and Markets Authority (CMA) said on Fridayessential parts of the UK retail banking sector lack effectivecompetition and do not meet the needs of personal consumers orsmall and medium sized enterprises (SMEs).
The CMA can order structural remedies, such as breaking upbanks considered too dominant, and behavioural remedies, such asimproving information given to customers. (Reporting by Steve Slater; Editing by Anjuli Davies)