The exterior of a Co-op bank building
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Labour looks to sever links with the troubled Co-op bank

The Labour Party is considering severing its historic links with the Co-operative Bank.

The BBC has learned that Ian McNicoll, Labour's general secretary, is looking to move loans worth more than £1m to the trade union-owned Unity Trust Bank.

The move comes after a year of controversy at the bank.

It included the resignation of its chairman Paul Flowers who is now facing charges for drugs possession and this month the bank reported the biggest losses in its history.

Kamal Ahmed reports.

  • 24 Apr 2014
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