Movim • Forcing UK banks to support credit unions would help keep loan sharks at bay

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Forcing UK banks to support credit unions would help keep loan sharks at bay

news.movim.eu / TheGuardian • 7 December 2025

High street banks dodged a windfall tax – now they should invest in growth of local lenders

Nikhil Rathi, chief executive of the Financial Conduct Authority, made a pilgrimage on Friday from its glass and steel HQ in east London to the Pioneers Museum in Rochdale – the spiritual home of the co-operative movement.

His unlikely day trip aimed to highlight the City watchdog’s role in opening the way to a doubling of the size of the mutuals sector – a Labour manifesto pledge.

Th chevron_right

Forcing UK banks to support credit unions would help keep loan sharks at bay

news.movim.eu / TheGuardian • 7 December 2025

High street banks dodged a windfall tax – now they should invest in growth of local lenders

Nikhil Rathi, chief executive of the Financial Conduct Authority, made a pilgrimage on Friday from its glass and steel HQ in east London to the Pioneers Museum in Rochdale – the spiritual home of the co-operative movement.

His unlikely day trip aimed to highlight the City watchdog’s role in opening the way to a doubling of the size of the mutuals sector – a Labour manifesto pledge.

Th chevron_right

Forcing UK banks to support credit unions would help keep loan sharks at bay

news.movim.eu / TheGuardian • 7 December 2025

High street banks dodged a windfall tax – now they should invest in growth of local lenders

Nikhil Rathi, chief executive of the Financial Conduct Authority, made a pilgrimage on Friday from its glass and steel HQ in east London to the Pioneers Museum in Rochdale – the spiritual home of the co-operative movement.

His unlikely day trip aimed to highlight the City watchdog’s role in opening the way to a doubling of the size of the mutuals sector – a Labour manifesto pledge.