A "slow-drip torture of incidents, events and court cases" are eroding trust in the banking industry, says John Laker, the chairman of the Banking and Finance Oath board and former chairman of the banking regulator.
"The erosion of trust and the impact on individuals is very disappointing. Livelihoods have been affected. There has been an erosion of trust, and once it is lost it is hard to regain, so it's critical that all parts of the industry work to build trust. The community has high expectations of the industry and there's work to do to meet those expectations. At the individual level the oath can provide momentum that core ethical foundations are being reinforced."
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