Disillusioned public feel the crunch.FIVE years on from what is considered the start of the credit crunch Credit Crunch
An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. , dubbed "the day the world changed" by the former boss of Northern Rock, the public are more disillusioned dis·il·lu·sion
tr.v. dis·il·lu·sioned, dis·il·lu·sion·ing, dis·il·lu·sions
To free or deprive of illusion.
1. The act of disenchanting.
2. The condition or fact of being disenchanted. with the banking sector than ever, a consumer group has claimed.
Nearly three-quarters - 71% - of people surveyed by Which? do not think banks have learnt their lesson from the financial crisis, up from 61% in September last year.
Consumers have low expectations for a parliamentary inquiry into banking ethics, with only 26% confident it will lead to positive change among the UK's lenders.
The survey was published on what's reckoned to be the fifth anniversary of the start of the credit crunch.
Which? chief executive Peter Vicary-Smith said: "Five years on, public confidence in the banking industry is at an all time low, with a series of scandals exposing mismanagement mis·man·age
tr.v. mis·man·aged, mis·man·ag·ing, mis·man·ag·es
To manage badly or carelessly.
mis·manage·ment n. and corruption at the very heart of the banking system that have cost UK consumers dear."