The Not So Co-Operative Bank.

Yesterday the Chief Executive of the 84% publicly owned RBS Bank joked about his £9 million salary and restated the justification for continuing the practice of huge bonuses to 'keep the best people' working in the banking business. The same day I opened a letter from my bank, the misleadingly named Co-Operative Bank, which is NOT a co-operative it is a PLC. This was their final response to my complaint about their excessive charges following the judgement by the Law Lords, which found in their favour.
This batch printed letter explained in a long-winded way that they would not be refunding any charges despite having accepted that mine was a case of hardship and that any further action would have to be through the Financial Services Ombudsman. I have already been told by them that it is up to the bank.
One might have thought that one bank, particularly one that puts on a show of having some ethical policy rather than simply being a machine for making money out of other peoples money, would make some attempt to regain some credibility and show an understanding of the fact that their practices have clearly been proven to be unfair and punitive. The ruling from the Supreme Court did not compel any changes but again one might have thought that they would attempt to generate some goodwill by acting without compulsion and address some cases.
But no, no its business as usual in the UK. Only Santander, a Spanish bank and one subject to much tighter legislation under Spanish law, are moving towards a fairer position. Meanwhile the UK banks banded together to fight any suggestion that they have been fleecing customers for years and years and will continue to do so unless compelled to change.
I draw attention to the Co-Operative Bank's position, which was one of the six that fought the case through the courts, no doubt at considerable expense. While some parts of the Co-Operative group are, I believe, something like a true co-operative, the bank is not. Therefore how is it able to go under this name ? All of its advertising material implies that it is different from other banks but never makes it clear that it remains a private shareholders company and it certainly behaves like one when it comes to its practices and policy on charges.