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PPI refunds: Which? says PCBS should be customer-focused

Consumer advocacy organisation Which? has made statements on events being held by the Parliamentary Commission on Banking Standards (PCBS).

Executive director of the group Richard Lloyd said the PCBS ought to speak to people who have "had enough of being short changed" due to bank charges and other expenses.

Furthermore, the commission should speak to people about why they have "lost trust and confidence in the industry", he continued.

"Now is the time for the Big Change in banking," the representative declared, arguing the government, the PCBS, regulators and banks themselves must listen to comments by the public and reform the industry with the public's interest in mind.

He noted a recent survey by Which? revealed banking is one of the least trusted professions in the UK.

In the poll, only six per cent of respondents associated the sector with ethical behaviour, while 11 per cent said they would trust bankers to act in their customers' best interests.

Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801453617-ADNFCR

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