Bankers: Payback Time: Banking Heads and The Archbishop of Canterbury discuss how bankers started to abuse the trust of their customers
In Bankers: Payback time, we hear the eye-opening story of how Britain’s multi-billion pound financial mis-selling scandal came about.
This documentary contains first-hand accounts from bank bosses, sales staff, politicians and customers, as it charts three decades of extraordinary change inside our high street banks. These banks brought us convenient, free baning services and easy credit while also paying their way at the centre of the nation’s economy. But now some bankers candidly admit that they abused the trust of their customers in the search for quick profits. RBS Chairman Sir Philip Hampton, Lloyds Group CEO Antonio Horta Osorio and the Archbishop of Canterbury dissect this banking crisis and discuss how this dysfunctional system can be rebuilt.
Latest estimates suggest the compensation bill for payment protection insurance could be £25 billion. At one point, PPI was delivering up to a third of retail banks’ profits. This documentary explores the shocking story of how one of the biggest consumer rip-offs in UK history came about.
The public have a paradoxical relationship with banks, on one hand they want the revenue they contribute to the nation’s coffers and technological advances like online banking, while on the other hand they constantly despair at the bank’s behaviour. However, as bank bosses now admit, the days of abusing customer trust in the quest for quick profits have to be over.
Bankers: Payback Time airs tonight on BBC2 at 9pm
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