UTTOXETER'S Chamber of Commerce chief has backed a move to gain more transparency from the banking sector.
Chris Plant, director of the Burton and District Chamber, welcomed the Competition and Markets Authority's investigation into UK banks.
He said: "Businesses want more competition, choice and transparency in the banking sector.
"Therefore the provisional decision by regulators that they will conduct a full-scale investigation into business banking is the right one.
"Studies have shown that many firms across the country feel that trust in the banking system has been damaged over recent years, with some dissatisfied with the level of service they receive.
"Other companies are discouraged from applying for finance."