Banks mustn’t be architects of reform, says Which?

As the Treasury Select Committee report, "Banking Crisis: dealing with the failure of the UK banks" is published, Which? personal finance campaigns manager, Doug Taylor, says: "The banks brought about their own downfall so unless we want history to repeat itself, they mustn't be the architects of reform. It's time for a new order in the banking world based on stability, genuine competition and the interests of consumers.

"We've been calling for major changes to the way banks operate and the Committee's damning indictment of the banks' incompetence couldn't be a clearer message that the status quo can't continue."