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UK: Former Competition Commission head joins Co-op Bank ethics board

 |  May 27, 2014

A former Competition Commission deputy chairman will reportedly join Co-operative Bank’s new ethics committee as the bank looks to overhaul its declining reputation.

Reports say Laura Carstensen, who joined the Equality and Human Rights Commission as its commissioner since the Competition Commission was merged with the Office of Fair Trading to become the Competition and Markets Authority, will join Co-op Bank that has faced several crises in recent months.

Reports say the lender has nearly $2 billion in debt and recently had to ask for hundreds of millions of dollars from investors to pay for past misconduct.

The bank established the ethics committee last year to overhaul its performance.

Full content: The Guardian

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