But Mark Mullen, chief executive, said that the threat of new regulation meant the current account launch would be “certainly not in 2017, and maybe not even in 2018”.  The Financial Conduct Authority (FCA) recently launched a review of current accounts, which will not deliver initial findings until next year. This has opened the possibility of further restrictions for current account providers just a year after the Competition and Markets Authority finished its own two-year review of the staple banking product.  In addition, Mr Mullen described the CMA’s timetable to implement a digital standard called “open banking”, designed to make it easier for customers to switch current accounts, as “very very ambitious”.

https://www.ft.com/content/a7efa072-48fb-11e7-919a-1e14ce4af89b