Which? executive director, Richard Lloyd, said:
“Irresponsible behaviour was rife in the banking industry for far too long, so it’s good to see the Governor of the Bank of England calling for stronger penalties for those responsible for scandals like exchange rate rigging.
“The banks must also work much harder to win back consumers’ trust, and to prove they have learnt their lesson. We want to see senior bank executives driving cultural change from the top, and the Financial Conduct Authority should use its new powers to hold them to account if they don’t.”