Which? is calling on the inquiry and government to listen to the public and make sure consumers’ best interests are put at the heart of the reforms.
On Monday 24 September, Which? is hosting an event in Birmingham for members of the public to share their concerns with the Parliamentary Commission on Banking Standards (PCBS).
Which? executive director, Richard Lloyd, 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.’
He added: ‘Now is the time for Big Change in banking, to put customers first not bankers.’
Action point: If you’d like to put forward a comment or a question you’d like to be shared at the event, simply leave a comment on Which? Conversation.
Banking scandals rock confidence
Lead member of the commission, Pat McFadden MP, said: ‘Recent scandals show serious problems have developed in the relationship between banks and their customers. This panel will try to find out what lies behind this and how it might be addressed.’
Following a number of banking scandals and an obvious lack of consumer trust in banking, Which? has launched its Big Change campaign, calling for banks to work customers, not bankers.
Big Change campaign
Which? wants to see Big Change in banking culture. We’ve set out the following demands:
1. Bankers should put customers first, not sales
2. Bankers must meet professional standards and comply with a code of conduct
3. Bankers must be punished for mis-selling and bad practice.
Action point: If you’ve had enough of the banks’ bad behaviour pledge your support for our Big Change campaign.
- Sign our pledge – show your support if you want to see a change in banking culture
- Ask the Commission a question – ask the Banking Commission your burning questions
- Watchdog not Lapdog – more on our campaign to improve banking regulation