A perfect time to break the banks’ ingrained culture of profit before people
Old habits die hard, but with a new guard in charge, the big lenders can implement changes to stop the cycle of scandals
It has been a year since the tracker mortgage scandal was at its peak and bankers were dragged kicking and screaming into the Department of Finance to account for their shameful treatment of customers. Since then the number of customers affected has shot up from fewer than 10,000 to almost 35,000, even though the banks had insisted that the problem was not widespread. The bill for this particular mess will probably end up costing close to €1 billion, and reputations have been tarnished.
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