Responding to the creation of a professional body on banking standards, chaired by Sir Richard Lambert,
Which? chief executive Peter Vicary-Smith said:
“We welcome an independent body to instil professional and ethical standards in banking. This should help to repair consumer trust in this essential industry, which has been eroded following scandal after scandal.
“Sir Richard Lambert will give this body the independence that is necessary for it to have credibility in the eyes of the public, and we look forward to working with him to inject much needed integrity back into banking. We hope this signals the start of the big change in banking that we’ve been calling for.”
Which? research in June found that around eight in 10 (84%) people think the organisation overseeing professional standards should be independent of the banking industry. Nearly two-thirds (64%) 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.]