Insurance, mobile and broadband companies that rip off their loyal customers by £4billion through 'stealth price rises' face crackdown | WHAT REALLY HAPPENED

Insurance, mobile and broadband companies that rip off their loyal customers by £4billion through 'stealth price rises' face crackdown

Companies that rip off their loyal customers by more than £4bn every year are facing a major crackdown.

The competition watchdog says there should be powers to cap prices, impose fines and name and shame firms that penalise households that do not shop around.

It follows a three-month investigation into five markets – home insurance, mobile, broadband, cash savings and mortgages – where existing customers are routinely charged more than new ones.

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