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CMA letter to Clydesdale Bank Plc on a breach of the SME Banking Undertakings
Letter to Clydesdale Bank plc for a breach of the Small and medium sized enterprises (SME) Banking Undertakings 2002.
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Clydesdale Bank plc (Clydesdale Bank) breached the Small and Medium-sized Enterprises Banking Undertakings. Clydesdale Bank required SME customers holding a PCA to open a Business Current Account (BCA) in order to progress their application for a loan under the Bounce Back Loan Scheme (the Scheme). Clydesdale Bank started offering the loans under the Scheme on 4 May 2020.
Clydesdale Bank has committed to address its breach of the Undertakings by: