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Finance: For the banks, change has only just begun

It took disaster to prompt even small steps forward from the banks

By Andy Davis   May 2013

Of all the scandals that have tried the patience of savers and investors in the five or so years since the financial crisis began, one stands above them all—the mis-selling of insurance policies linked to bank loans. The true scale of this debacle is still unclear but it has touched millions. Even the squeaky clean Co-operative Bank has found itself embroiled.

The major lenders have so far set aside around £14bn to cover…

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