Co-op Bank scrambles to convince customers its ethical stance will survive

As details of a £1.5bn rescue package were announced, the group disclosed the City regulator, the Financial Conduct Authority, was asking questions about information it provided about its financial strength in its 2012 annual report. The bank had concluded it did not need to reissue the accounts, according to the Guardian. About 50 of the 324 Co-op bank branches are to close and a significant number of jobs from the 10,000-strong workforce are under threat as the new management team attempts to reverse steep losses. It could take five years to make the bank profitable again after loss...