Forums Forums National News Banks Raided Over Price Fixing

Royal Bank of Scotland and Barclays have been raided by the Office of Fair Trading (OFT) regarding possible price-fixing.

The OFT said it had launched an investigation into alleged anti-competitive practices.

The investigation concerns loans made to professional services companies, such as law and accountancy firms.

The OFT said the investigation was in its early stages and had a narrow focus, being limited to two parties.

"The OFT will not be in a position to conclude whether the law has in fact been infringed until it has completed its investigation and assessed the available evidence," the consumer watchdog said.