On 3rd September 2019 the Bishop of St Albans led a debate on a motion to ask the Government “what assessment they have made of the implementation of the recommendations of the Parliamentary Commission on Banking Standards and the opportunities for further banking reform”. The Bishop of Birmingham, Rt Revd David Urquhart, also made a contribution:
Lord Bishop of Birmingham: My Lords, I am grateful to my right reverend friend for leading this debate and I welcome the Minister to his new role. I want to focus on the recommendations in the original report—the references in paragraph 138 of the summary, volume 1—which looked at culture change. The response of the banking industry to that challenge came through a report produced by Sir Richard Lambert, which said that if the banks didn’t face up to this, there will be further intervention, regulation and direction. As a result, the UK Banking Standards Board was set up in 2015. I declare my interests in that I am a founder member of that board and also part of the ad hoc Financial Exclusion Committee which has been referred to already.
Continue reading “Bishop of Birmingham speaks about banking reform”
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