In a just-published article in The Banker, Stephen Scott, Starling's Founder & CEO, argues that, in order to change banking for good, we must also change banking supervision for good.
Scott looks back upon the UK's Parliamentary Commission on Banking Standards (PCBS), launched in 2012 in response to rampant misconduct and flagging trust in the financial sector. The following year, the Commission published its final report entitled Changing banking for good. "Trust in banking can only be restored when it has been earned, and it will only have been earned when the deficiencies in banking standards and culture, and the underlying causes of those deficiencies, have been addressed," the report read.
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