There are big fee differences between banks for the same services - the regulator wants to know why

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The FSCA wants to take a closer look at banks' costs.
The FSCA wants to take a closer look at banks' costs.
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The Financial Sector Conduct Authority (FSCA) wants to take a closer look at banks' costs to understand why some charge multiples of what their peers charge for the same services.

Until recently, the supervision of banks fell outside the scope of the FSCA, which has been policing the conduct of insurers for years. But after the Financial Sector Regulation Act of 2018, the regulation and supervision of banks' conduct fell within its ambit too.

In July 2020, it published the Conduct Standard for Banks, and it has already picked up areas of concern.

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