Why we’re still raging about how banks treat us

It must be underlined that it is essential for people to have confidence in the banks.
Bank reform should thus concentrate on achieving public confidence in banks.
This can only be achieved by splitting banking operations into retail and investment with their capital isolated. Retail banks will thus collect capital from depositors and lend money against securities or credible business plans, scrutinised by competent and responsible personnel.
Investment houses can be free of restrictions for those who hope for larger profits accepting possible risks.
Whereas bailing out the banks on the retail side is justifiable, losses in investment banks are not, and that side should not have been bailed out.
The government shpold have systems in place to monitor banking systems , regulations and performance, with authority to implement cganges.

I have fallen fould of banks and thier crazy ways. Lloyds gave me a loan, and I was OK paying it back monthly, together with other payments. However, banks are very inflexible, and I depended on my pension being paid into my account as my only income, and they insisted on a monthly payment on a particular date in the month, whereas I get paid same day every week. On one occasion, the pension and the payday were on the same day. To my alarm, I found that at midnight, the bank took out payments, but waited until 1am to pay in my pension. On this occasion, there was not enough to pay my regular payments, and the bank refused to pay my regular payments, AND charged me £30 for not having enough money available to pay. The people who were waiting for payments that day also did not get paid.

Sure enough, I ended the day with about three unpaid committments, charges from the bank, and charges for late payment from those who should have been paid. Lloyds also tried to collect a loan balance from a friend whose husband died of a heart attack outside my house. He had left her, and was living alone. Although loan debts die along with the person who had taken them out, she was hounded by Lloyds for two years, until she took legal action against them.

I changed banks to Yorkshire bank, and although my pension does not arrive at the bank until Monday, they credit my account on the previous Saturday morning at midnight Friday – way better than Lloyds – I think every bank would do well to take example from them. And they are Australian – not British, so top marks to the Aussies, and Boo to the greedy national banks here. I think bank charges are worse than loan sharks would blush to charge – and I suspect those in Government are closely in with the banks, and tend to leave them to it, whatever politicians say. I also object to bailing out banks when they mess up – the farce over where they invest in crazy and unstable things like the American Mortgage scams, which caused havoc a few years back, is an example where they should be disciplined. I don’t see why we should prop them up, but then they are associated with the Government, and so I suspect we won’t see much improvement – and a lot of local councils invested our money on the same mortgage scams, and lost loads of our money, and then want rates to rise – pathetic crowd of wasters – I would fire the lot, and get a careful houswife to organise the banks – she would do a cracking job at it I am sure.

In the US, they are suing irresponsible banks, in the UK they reduce tax & interest rate for them.

People are still angry at banks? Is that a surprise to anyone at this point? Of course people are still angry. The staggering greed and level of risk-taking is something that’s going to have negative consequences for the nation’s poorest for years to come.