Chair of the Treasury Select Committee Andrew Tyrie says the Co-op Bank's shortcomings have become 'a familiar story' in the banking world.
– Andrew Tyrie, Chair of the Treasury Select Committee
Being owned by a mutual, the Co-op Bank differed from most of its competitors. But on today's evidence, its shortcomings did not. A lack of personal accountability at senior levels, ineffective corporate governance and insufficient experience and expertise among those taking the decisions; this has become a familiar story.