This timely speech rightly recognises that some banks may have lost sight of their core values and is a thoughtful assessment of the critical steps that need to be taken to restore confidence in the banking system.
A healthy and respected banking system is essential to support economic growth. Businesses want banks to provide transparent and straight-forward products and services, and a culture that is built around the customer.
We all want to see our banks re-build public trust, re-define their core values and live by them, as the best banks do.
More top news
The Queen has sent her first ever tweet - personally pressing send on a tablet at the Science Museum on London.
Aaron Paul has joined a campaign calling on Toys R Us to return Breaking Bad action figures to shelves.
Welsh-born actor Christian Bale will play the role of Steve Jobs in an upcoming Hollywood film about the life of the Apple co-founder.