Can the power of the Banks be curtailed?

cepheus

Looks like they are up to their old tricks again, the last paragraph is particularily worrying

Bank reforms must press ahead, says Which?

Which? says the government must ensure consumers are sufficiently protected from a recurrence of the banking collapse that led to a costly public bailout.

Executive director Richard Lloyd said: "We have seen intense lobbying from
the banks... including a crescendo of scaremongering over recent weeks on the risk of the end of 'free banking' and of big financial institutions leaving the country.

"The chancellor must resist buckling under this pressure." 'Ordinary people' He said without "strong action" to shake up the banking culture, consumers would continue to pay the price..........

The bill will also give the chancellor powers to veto decisions made by the
Bank of England when dealing with bank bailouts.

Financial institutions have campaigned against plans to put savers first if a
bank becomes insolvent.

http://www.bbc.co.uk/news/business-18312580