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Can the Co-op salvage its 'ethical' reputation?

Questions are being raised about the future of the Co-operative bank, following the scandal surrounding former banking chairman, Paul Flowers.

Reverend Flowers was filmed allegedly ordering cocaine and boasting about his use of other banned substances, days after he was grilled by MPs about the crisis faced by the Co-op's banking arm.

Current Chairman Len Wardle, who appointed the disgraced executive, stepped aside yesterday. But has the Co-operative group done enough to salvage its ethical reputation?

Peter Hunt, Chief Executive of MUTUO - an organisation which promotes mutual businesses, told BBC Radio 5 live's Wake Up to Money: "There is an opportunity for the new management and the bank itself to try to convince its customers that its still going to stick to its ethical policy."

  • 20 Nov 2013
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