Which calls for “Big Change” in banking.
As part of its inquiry, the Parliamentary Commission on Banking Standards panel will hear from consumers at an event organised by Which? on Monday 24 September.
Richard Lloyd, executive director of Which, said: “We want the commission to hear directly from consumers about how they have lost trust and confidence in the industry and have had enough of being short changed by banks.
“The Commission, the banks, the regulators and the Government must listen to the public and make sure consumers’ best interests are at the heart of the reforms that so desperately need to be made.
And he added: “Our recent survey finds that banking is one of the least trusted professions. We are campaigning for Big Change to banking culture to put customers before sales, to improve professional standards and ethics and to punish bankers for mis-selling and bad practice.”
The commission was appointed by both houses of parliament to consider and report on the culture of the UK banking sector and the professional standards within it, ultimately to make recommendations for legislative and other action.