For banks, sorry seems to be the hardest word

A year after the financial sector bailout, Which? has found that there is still widespread consumer resentment against the banks.

As the consumer champion launches a major new campaign, ‘Britain Needs Better Banks', its latest research shows that almost two thirds of people are still really angry with the banks for causing the financial crisis.

Consumers feel that, for most banks, sorry seems to be the hardest word, with three quarters thinking the banks aren't genuinely sorry for causing the financial crisis. Three out of five people don't feel that banks have learnt their lessons from the crisis, and four out of five believe that senior level bankers have got away without having to pay the price for their mistakes.

Such is the frustration with banks that a third of people think that, in future, the government should allow them to go bust rather than bail them out, and just under four out of five believe the banks have not done enough to ensure a credit crunch doesn't happen again.

Which? has published a shortlist of songs on its ‘Britain Needs Better Banks' website - bnbb.org - from a national poll that sum up peoples' views of the banks.

Gold Digger - Kanye West
Hey Big Spender - Shirley Bassey
I Hate You So Much Right Now - Kelis
I'm Paying Taxes, What Am I Buying - Fred Wesley and the JBs
Money For Nothing - Dire Straits
Smooth Criminal - Michael Jackson
Sorry Seems To Be The Hardest Word - Elton John
Take The Money And Run - Steve Miller Band
That Don't Impress Me Much - Shania Twain
The Winner Takes It All - ABBA

Which? wants to find the one song that the nation feels best sums up its view of the banks and is inviting people to visit bnbb.org and vote for one of the shortlisted titles, or nominate their own suggestion.

Which? head of campaigns, Louise Hanson, says: "Whether you reckon banks are Smooth Criminals or Big Spenders, everyone has a view on the banking crisis. People tell us they're angry - a year after the bailout, banks are still treating them like second class citizens with poor customer service and shoddy sales tactics. Consumers are wary of what the banks say. It's not going to be easy for the banks to regain the public's trust, but a good start would be for them to say sorry - and mean it."