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'Too early' to assess 'loyalty penalties' under Covid-19, says UK CMA

( July 13, 2020, 11:14 GMT | Official Statement) -- MLex Summary: It's "too early" to assess the impact of the Covid-19 pandemic on markets affected by "loyalty penalties" including telecoms, household insurance, cash savings and mortgages, the UK competition regulator has said. Enforcers should look into the economic pressures faced by businesses as well as consumer behaviors, the Competition and Markets Authority said. Loyalty penalties occur when service providers offer cheaper deals to new customers, and charge longstanding clients more.Statement follows. The update is attached....

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