More bankers should be stripped of bonuses after Lloyds claws back £1 million

It is the first time a British bank has exercised a “clawback” option on executive pay packages since the financial crisis.

Nadhim Zahawi, a Conservative MP who has campaigned for banking reform, said other bankers should also face clawbacks.

He said: “It should set a precedent for other banks. For too long it has appeared to the public that executive jobs at big banks are a one-way bet, that no matter what you do you get a huge reward.

“That has to change so that negligent behaviour at the top of banks has clear consequences and punishments.”

The decision could pave the way for clawbacks at rival banks. Royal Bank of Scotland, which is 83 per cent owned by the taxpayer, was the second largest player in the PPI market behind Lloyds.

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About OyiaBrown

Please send me, as a comment to this page, any old material you have for inclusion in The Daily Joke Alert - to help enable us all to have our fancy tickled regularly! Never mind the state it's in as I tidy everything up prior to publication. Don't let good material go to waste - and so much does. In the interests of the environment we should always try to re-cycle everything, especially jokes. You know that makes sense! You may find some historical stuff here, but this does not really matter as humor is fairly timeless.

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