The Price of Misconduct - £53BN and Rising!

New City Agenda has issued a report that states that lawsuits and misconduct fines have cost Britain's largest retail banks and customer-owned lenders almost £53BN over the past 15 years.

Reuters quotes John McFall, a director of New City Agenda and former Treasury Committee chairman:

"The profitability of UK retail banks has been imperilled by persistent misconduct.

This has made every citizen poorer through our pension funds and our ownership of the bailed out banks." 

I am more than certain that the costs will keep rising!