Consumer champion Which? has launched a major new campaign, ‘Britain Needs Better Banks’, as its latest research shows that almost two thirds of people are still really angry with the banks for causing the financial crisis.
Consumers feel that, for most banks, sorry seems to be the hardest word, with three quarters thinking the banks aren’t genuinely sorry for causing the financial crisis. Three out of five people don’t feel that banks have learnt their lessons from the crisis, and four out of five believe that senior level bankers have got away without having to pay the price for their mistakes.
Such is the frustration with banks that a third of people think that, in future, the government should allow them to go bust rather than bail them out, and just under four out of five believe the banks have not done enough to ensure a credit crunch doesn’t happen again.
Vote for the song that best sums up your view of Britain’s banks
Which? has published a shortlist of songs on its new banking campaigns website from a national poll that sum up people’s views of the banks:
- Gold Digger – Kanye West
- Hey Big Spender – Shirley Bassey
- I Hate You So Much Right Now – Kelis
- I’m Paying Taxes, What Am I Buying – Fred Wesley and the JBs
- Money For Nothing – Dire Straits
- Smooth Criminal – Michael Jackson
- Sorry Seems To Be The Hardest Word – Elton John
- Take The Money And Run – Steve Miller Band
- That Don’t Impress Me Much – Shania Twain
- The Winner Takes It All – ABBA
Smooth criminals or big spenders?
Which? head of campaigns, Louise Hanson, says: ‘Whether you reckon banks are Smooth Criminals or Big Spenders, everyone has a view on the banking crisis. People tell us they’re angry – a year after the bailout, banks are still treating them like second class citizens with poor customer service and shoddy sales tactics.
‘Consumers are wary of what the banks say. It’s not going to be easy for the banks to regain the public’s trust, but a good start would be for them to say sorry – and mean it.’