Under the banking code, UK banks are supposed to allow all consumers to open a basic current account.
The Banking Code should ensure that any victims are refunded for any losses.
Robert Skinner, chief executive of the BCSB, said Capital One had been guilty of a serious breach of the Banking Code.
Current account holders and people with mortgages should be sent copies of the industry codes - the Banking Code and Mortgage Code every two years.
Is there anything in the banking code about this, Adrian Lloyd?
In response, Capital One drew attention to a few others who have not signed to the Banking Code, most significantly the government's National Savings, which has 30 million customers.
Under a change made in March 2005 to the Banking Code, an industry-wide voluntary agreement, lenders were barred from sending unsolicited credit card cheques to customers with a pre-completed loan amount.
My thanks to Adrian Lloyd from the Banking Code Standards Board, to Stewart Cliffe from the National Association of Bank Customers, Rebecca Fernley from Consumers Association and Simon Pitkeathly representing the banks.
Dr Julius was commissioned by the Treasury to investigate the voluntary banking code after it was criticised in the far-reaching Cruickshank report in March last year.
And it is interesting that, for him, the fundamental question is whether it is possible to have an effective single code of conduct for a universal bank like Barclays, when the motivations and instincts of investment banking traders and branch managers are so different.
Lloyds yesterday announced that its managing director of consumer banking and payments, Paul Pester, would become chief executive of the business being sold, which goes by the code name of "Verde", and would oversee the disposal.
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