The Parliament Commission on Banking Standards was at Birmingham Chamber of Commerce headquarters to gather evidence in the wake of the Libor scandal.
A return to the personal touch was the overwhelming demand to banks
when Birmingham businesses met at a cross-party parliamentary commission
on Monday.
The Parliament Commission on Banking Standards, led by Wolverhampton South East MP Pat McFadden, was at Birmingham Chamber of Commerce headquarters to gather evidence in the wake of the Libor scandal.
Mr McFadden said: “There has been a huge breakdown in trust since Libor and PPI miss-selling. But it’s not just about trust. We shall be looking at the broader relationship between banks and business in order to get them to invest and create jobs. It’s about the job description of banks.”
Over 30 businesses attended the hearing to meet Mr McFadden (Lab, Wolverhampton South East) and other SME/retail panel members Mark Garnier (Con, Wyre Forrest), Andy Love (Lab, Edmonton), Lord McFall of Alcluith (Lab) and John Thurson (Lib Dem, Caithness, Sutherland and Easter Ross).
The commission is drawn from the Houses of Commons and Lords.
Most businesses wanted banks to consider a return to personal banking, moving away from “a clone ticking boxes on a computer-generated form,” as one put it.
Other demands were for bankers with more local knowledge, a recognised professional qualification for bank advisers, like lawyers and doctors, with penalties for breaches of a code of practice and more protection for medium-sized businesses.
Source: http://www.egovmonitor.com/2012/09/26/uk-banking-commission-on-banking-standards-gathers-evidence
The Parliament Commission on Banking Standards, led by Wolverhampton South East MP Pat McFadden, was at Birmingham Chamber of Commerce headquarters to gather evidence in the wake of the Libor scandal.
Mr McFadden said: “There has been a huge breakdown in trust since Libor and PPI miss-selling. But it’s not just about trust. We shall be looking at the broader relationship between banks and business in order to get them to invest and create jobs. It’s about the job description of banks.”
Over 30 businesses attended the hearing to meet Mr McFadden (Lab, Wolverhampton South East) and other SME/retail panel members Mark Garnier (Con, Wyre Forrest), Andy Love (Lab, Edmonton), Lord McFall of Alcluith (Lab) and John Thurson (Lib Dem, Caithness, Sutherland and Easter Ross).
The commission is drawn from the Houses of Commons and Lords.
Most businesses wanted banks to consider a return to personal banking, moving away from “a clone ticking boxes on a computer-generated form,” as one put it.
Other demands were for bankers with more local knowledge, a recognised professional qualification for bank advisers, like lawyers and doctors, with penalties for breaches of a code of practice and more protection for medium-sized businesses.
Source: http://www.egovmonitor.com/2012/09/26/uk-banking-commission-on-banking-standards-gathers-evidence
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