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18 September 2012 10:26
People recovering from bankruptcy will no longer receive a choice of current accounts at the Co-operative Bank.
The Co-op's decision to stop its basic Cashminder account from taking on undischarged bankrupts leaves Barclays as the only bank to offer such a service.
The mutual, which will continue to offer the account to existing customers, blamed its decision on a lack of competition from rivals, which meant its share of the market was rising and left it struggling in an "unlevel playing field".
But consumer groups said the decision would hit the poorest hardest and called for minimum standards to prevent "a race to the bottom" on basic accounts.
