FIN.

Treasury Committee welcomes Co-op review

Nicky Morgan has welcomed the “long overdue” review into the Co-op Bank. She had written to Andrew Bailey in February to ask why the review, announced by George Osborne in November 2013, had not yet started. The response from FCA confirmed that the review had to wait until enforcement action had concluded and noting the direction from Treasury to PRA to now commence the inquiry.

Mrs Morgan commented that there are probably still valuable lessons to be learnt, regardless of the time elapsed between the failings and the review.

Emma Radmore