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The Co-operative triples its retail banking arm in a takeover of 632 Lloyds branches. But will the £750m deal compromise the bank’s prized ethical credentials? Channel 4 News investigates.
The Co-op is riding the ethical banking wave by taking over 632 Lloyds banking group branches. But what makes a bank ethical, and what else is on offer in the UK? Channel 4 News investigates.
People taking out a personal pension should receive bank account-style statements to prevent them facing hidden costs according to a report from a think tank.
Jon Snow
Alan and Margaret thought they were the only people in the world to fall for a financial product misold to them by a bank. It wasn’t until they met hundreds of other victims on-line that their lives began to recover hope. Jon Snow reports on the campaign against mis-selling in tonight’s Dispatches.
Former Barclays boss Bob Diamond forgoes a potential £20m in bonuses and share awards, but will still walk away with up to £2m.
Gary Gibbon
Being “physically ill” and displaying good manners, Gary Gibbon examines Bob Diamond’s performance at the Treasury Committee.
Bob Diamond gives evidence to the Treasury Select Committee a day after he was forced to stand down as Barclays chief executive following the Libor index “rigging” scandal.
Jon Snow
The reputation of the British Bankers Association has been brought low; the credibility of that agreed interest rate the Libor, has been traduced; the reputations of the mega forces at the top of British banking are on the floor; and confidence in the regulatory forces at the Financial Services Authority (FSA) and the Bank of England are also in question, writes Jon Snow.
Former Barclays chief executive Bob Diamond tells MPs he did not believe he was “instructed” by the Bank of England to submit lower borrowing rates during the 2008 financial crisis.
On a day when it’s pretty clear that the authorities asserted dominion over our banking system, I was invited atop the Canary Wharf tower that houses Barclays to speak to its now un-resigned executive chairman Marcus Agius. He is not prone to lengthy answers, but I think much of what he does and does not say is rather telling.
Gary Gibbon
Channel 4 News Political Editor Gary Gibbon blogs about the government’s plans for a banking inquiry
Jon Snow
It seems impossible that the regulators did not know and simply went along with the Libor fiddling simply to save institutions that even by 2008 were far too big to fail. That’s a bold claim. But it is the claim that needs to be addressed.
Prime Minister David Cameron reveals a full parliamentary committee of inquiry, chaired by Treasury select committee chairman Andrew Tyrie, will be set up in the wake of the Libor scandal.
Ministers order an urgent review of the Libor bank rate after it emerged Barclays had tried to manipulate it. But Labour’s Ed Miliband calls for a full-scale independent inquiry into banking culture.
Barclays, HSBC, Lloyds and Royal Bank of Scotland agree to compensate thousands of business customers after the Financial Services Authority finds they mis-sold specialist insurance on loans.