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Bradford & Bingley&#39s conversion could kill the mutual sector


The Treasury Select Committee inquiry into mutuality has been warned Bradford & Bingley&#39s proposed conversion will kill the mutual building society sector.


Loughborough University professor of money and banking David Llewellyn warned the Committee investigating demutualisation the building society sector will be plunged into chaos and will not be able to compete with plcs if B&B converts.


He argues that its conversion will make banks the dominant force in the mortgage market resulting in a massive reduction of building societies&#39 market share.


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