Banks in the UK may be forced to pay a minimum interest rate to savers in an effort to stop customers losing out because they are unwilling to switch banks, reports the FT. The UK's Financial Conduct Authority has opened consultation on price discrimination in the savings market and is considering enforcing a minimum rate for all cash savings accounts. The FCA says it has concerns about how banks are treating loyal customers and taking advantage of their unwillingness to switch providers by offering higher interest rates to attract and retain new customers while gradually cutting the rates on older accounts. It estimates savers would benefit by about £300 million a year in extra interest payments.