BSA Welcomes Commitment to Mutuals in Coalition Agreement

BSA Welcomes Commitment to Mutuals in Coalition Agreement

BSA Welcomes Commitment to Mutuals in Coalition Agreement

The Building Societies Association today welcomed the commitment in the Conservative/Liberal Democrat Coalition agreement to bring forward detailed proposals to foster diversity, promote mutuals and create a more competitive banking industry. The Association looks forward to commenting on the proposals, and joining the discussions on how the mutual sector can play an enhanced role.

Commenting on the statement Adrian Coles, Director-General of the Association said –

“The commitment to promoting mutuals is warmly welcomed. Mutuals bring competition, diversity, democracy, efficiency, a lower appetite for risk and a higher appetite for service and trust, to a banking market suffering, in recent years, a deficit on all these measures. We look forward to playing our part in delivering an enhanced role for mutuals in this key area of the economy.”

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