Disillusioned public feel the crunch.

FIVE years on from what is considered the start of the credit crunch, dubbed "the day the world changed" by the former boss of Northern Rock, the public are more disillusioned 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 and corruption at the very heart of the banking system that have cost UK consumers dear."