CMA investigation into claims of sexist and racist behaviour concludes OBIE allowed ‘a culture of intimidation’
The chair of the body that was set up to deliver open banking in the UK has resigned as an investigation into sexist and racist behaviour concluded that the agency allowed “a culture of bullying and intimidation to prevail.”
Imran Gulamhuseinwala tendered his resignation as trustee and chair of the Open Banking Implementation Entity (OBIE), as part of a package of remedies meant to address poor culture and governance at the entity, said the Competition and Markets Authority on Friday. The CMA ordered nine UK banks and building societies to set up the OBIE in 2017, to encourage big banks to share customer information with startups and fintechs, and address a lack of competition in the financial sector.
