Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank claim: Banks must serve society, Archbishop claims

The Archbishop of Canterbury has weighed into the current banking crisis, claiming financial institutions must serve society, rather than their own interest.

Following scandals over PPI charges and Libor fixing, the banking sector has come under heavy criticism.

Now the Archbishop, Justin Welby, claims one of the country's biggest banks should be broken up to create more local lenders, the Daily Telegraph reported.

This will help to decentralise banking from the capital and address the "concentration" in the industry.

"What we’re in at the moment isn’t a recession but some kind of depression. It needs something very, very major to get us out of it, in the same way it took something very major to get into it," he said.

This comes after the government announced its desire to break up the Royal Bank of Scotland and Lloyds Banking Group.

Should such plans be adopted, the sector is likely to look much different in the future.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801575860-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide