Three decades of banking changes include easy credit and free banking services that did contribute to the British economy. In spite of this, the British banks are known as viewing customers as a commodity and "a wallet." These financial institutions are accused of destroying businesses and lives by means of sacrificing a long-term customer relationship in order to make a quick profit. So how exactly did these banks come out ahead in spite of handing out free money?
The largest banking scandal in British history is forcing banks to possibly pay more than 24 billion pounds back to its clients. Consumer attitudes have changed toward the bankers, and they are left wondering if they can ever trust financial institutions again. This video can provide insight on what people would want in a bank, and it will show everyone the catches involved in obtaining credit so easily.
The archbishop of Canterbury, RBS chairman Sir Philip Hampton, Gillian Tett, and Lloyds Group CEO Antonio Horta Osorio reveal what they believe caused this banking dysfunction. They also examine ways to end the financial crisis that resulted from one of the hugest miss-selling scams to ever take place.