Lamport Bassitt Solicitors - Legal News - Banking sector 'may not have learned from credit crunch'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Banking sector 'may not have learned from credit crunch' Some UK banks may not have learned the lessons of the credit crunch, it has been suggested. Speaking in front of Holyrood's economy committee, chairman of the Commons Treasury select committee John McFall claimed that not everyone in the industry understands the risks that led to the problems. He remarked: "The worry is that we're back to 'business as usual' and the banking community thinks that what happened in the past couple of years was just a normal recession, a blip." Bankers need to develop better attitudes to risk taking and corporate governance, he suggested. The West Dunbartonshire MP, who holds honorary professorships at Strathclyde University Business School and the University of Glasgow, said banks still need to come out into the "real world". Some institutions in the industry are in danger of reverting to previous practices despite the problems experienced by the country rather than implementing the necessary changes, he added. Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News