UK Small Business Lending Under Threat
A new report from Innovate Finance, a fintech body, criticizes the UK's prudential regulation, calling it "logic-defying" and a threat to small business lending.
The report accuses the Prudential Regulation Authority of imposing "excessive" and "uneven" regulatory burdens on challenger banks, favoring large incumbents.
Rules "intentionally favour" large incumbents, says Innovate Finance
Accountants warn that this could lead to an increase in economic crime.
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Innovate Finance's report highlights the need for a more level playing field in the banking industry.
Author's summary: UK regulation threatens small business lending.