Forcing UK banks to support credit unions would help keep loan sharks at bay
by Heather Stewart from Economics | The Guardian on (#71ZZM)
High street banks dodged a windfall tax - now they should invest in growth of local lenders
Nikhil Rathi, chief executive of the Financial Conduct Authority, made a pilgrimage on Friday from its glass and steel HQ in east London to the Pioneers Museum in Rochdale - the spiritual home of the co-operative movement.
His unlikely day trip aimed to highlight the City watchdog's role in opening the way to a doubling of the size of the mutuals sector - a Labour manifesto pledge.
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