Bank break-up recommendations get Cable's support
Business Secretary Vince Cable has given his support to plans from the Future of Banking Commission which call for the big banks to be broken up.
Mr Cable said the commission's purpose was "to look at the separation of retail and investment banking". Under the plans, "integrated" banks, such as Royal Bank of Scotland (RBS) and Barclays, would have their investment business run separately from their retail business, and a consumer regulator promoting competition between the big banks would be introduced. A total of 39 recommendations have been made.
Read more on this story at:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7149363.ece
