Co-operative Bank
Co-operative Bank ethics cost £14m last year
The banking arm of the Co-operative Group, Co-op Bank, has revealed that it turned down deals worth £14 million last year due to its ethical stance. Reasons for rejecting deals included animal welfare and child labour although the credit crunch is being seen by some as a contributory factor.
Co-op Bank's stance has angered some, including a traditional Scottish kilt-maker whose application for an account was rejected because some sporrans were made from seal-skin, a practice that has been around for over 300 years.
(Sources: Guardian.co.uk)
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21-May-2008 10:53:55
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