Co-op the ‘cock-up bank’ – claim

An unemployed disabled Lichfield man who was without enough cash to buy food is threatening to sue the Co-op bank’s CEO.

cockup

Troubled bank.

He thought Christmas had come when the Co-operative Bank told him he had £75 in an old account.

Official, “Martin, from team 3”, told the man how to withdraw his cash.  But when he tried the Co-op slammed down the shutters.

Cash withheld

Now he says the bank’s chief executive, Niall Booker, is refusing to tell him where his money is and why it is being withheld.

Booker’s furious customer says this is just the latest in a series of insults from the, “cock-up bank”.

The ‘cock-up’ bank

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Niall Booker: ‘cock-up’ prone.

He was made to use the Co-op after it took over the Britannia Building Society, in which he has his account.

He said: “Everything was fine until Booker shut down the Lichfield branch – it used to be a great building society.

“Then I had to travel miles to his Tamworth branch.

“I can’t afford the travel expenses and the journey causes me a lot of physical pain.

“I’ve told Booker that if he doesn’t sort out his latest mess I’ll take him to the County Court.”

The ‘decrepit’ bank

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Loved up: Niall Booker and his ‘colleague’, Samantha Davenport.

He said there had been endless problems with Booker’s clunky computers, which cannot handle Britannia and Co-op accounts at the same time.

The bank even made miscalculations on his mortgage account.

He told Booker his branch manager was rude after he was told, “no cash”, because the computers had crashed.

The ‘lying’ bank – claim

His passbook was taken off him and lost. The customer claims he was told lies about what had happened to it.

He also said the bank mishandled his personal data and put him at risk of fraud.

He alleged that arrogant head office staff tried to brow beat him – one person telling him do not write to Booker because, “he will never read it”.

Then Booker’s staff fouled up a simple name change on his account, costing him huge trouble and expense.

It took the chaotic bankers more than three months to sort it out.  Then they blamed others for their mistakes.

The ‘randy’ banker

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Samantha Davenport: just what was it the 44-year-old blond saw in the £3 million-a-year bald banker.

Three-million-pounds-a-year chief executive Booker (57), is set to quit the troubled bank.

He caused controversy two years ago when he was caught with his lover, Samantha Davenport, prompting calls for him to quit.

Not only was Davenport a colleague, she was one of the Co-op’s chief headhunters.

Booker was slammed as naive for thinking he could get away with the affair.

The ‘sexist’ bank

Then Davenport was demoted while no action was taken against Booker, leading to claims of the Co-op’s, “blatant sexism”.

Booker was hired, in 2011, to clean up the mess following the scandal involving the bank’s former chairman, Paul Flowers.

Flowers quit after being caught taking drugs and hiring rent boys.

It was also after the £1.5 billion shortfall was found in the Co-op’s capital.

The ‘junk’ bank

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Drugs and rent boys: Paul Flowers.

Credit-rater Moody’s downgraded the bank to, “junk”, as it kissed the rim of total collapse.

Despite Booker’s boast of being able to bring the bank around it still in trouble three years into his watch, despite sucking in cash from US hedge funds.

It is likely to be loss-making for at least another two years.

The Co-operative Bank is still groaning under its self-inflicted clean up costs – last year its losses hit £611 million.

The ‘reckless’ bank

It was the company’s reckless 2013 bid to buy more than 600 Lloyds branches that revealed it was rotten to the core and had a gaping chasm in its accounts.

Executives Barry Tootell and Keith Alderson were fined and banned from banking by the Prudential Regulation Authority.

Flowers was grilled by MPs about his financial competence.

The ‘disposable’ bank

Sector analysts say the Co-operative Group will get rid of its share in the bank altogether within the next couple of years.


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