Experian-ClearScore merger raises competition concerns in UKStaff Writer |
Britain Experian is the largest paid credit score checking provider
ClearScore and Experian are the first and second-largest providers of free credit score checking in the UK.
As Experian and ClearScore are the market leaders in this field, and each other’s main competitor, the Competition and Markets Authority (CMA) is concerned that the merged company would be less likely to innovate to help people better understand their finances, potentially leading to people paying more for credit cards and loans.
Experian and ClearScore have until 27 July to offer solutions to resolve the CMA’s concerns, otherwise the merger will be referred for an in-depth phase 2 investigation. ■
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