DT Economics partner, David Thomas, sits on several regulatory panels that cover competition, aviation, financial services and payments. As part of his work with the Payments Systems Regulator (PSR), David acted as one of the settlement decision makers involved in the fining of Barclays £8.4 million for failing to provide full information concerning the cost of card services to retailers under the Interchange Fee Regulation. This is the second enforcement taken against UK banks following the PSR's £1.82 million fine to Natwest, RBS, Ulster Bank and Coutts in 2022.
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