Peter Vicary-Smith, Which? group chief executive, said:
“We welcome Sir Richard Lambert’s proposals to bring about a big change in the culture of British banking, so that the customer is once again put first, not bankers. An independent, transparent organisation to start a race to the top in professional banking standards is vital if we are to see consumer trust in the industry restored.
“The banking standards body must strive hard to win credibility with a public fed up with scandals and poor service. Every bank and building society should now join its programme without delay, and Which? looks forward to helping ensure that the voice of the consumer is at the heart of the new organisation.”
Which? research in June 2013 found that nearly two-thirds (64%) of people believe an independent body would be effective at delivering change in banking culture. [Populus, on behalf of Which?, interviewed 1,065 GB adults online on the 20th June 2013. Data were weighted to be demographically representative of all GB adults. Populus is a member of the British Polling Council and abides by its rules.]