Co-op investors demand rethink

AOL Money Staff
Co-op bank
Co-op bank

An action group representing thousands of pensioners and retail investors in Co-operative Bank bonds has launched an attack on the City regulator demanding a rethink of the bank's rescue plan.

Mark Taber, who has launched a campaign on behalf of Co-op Bank bondholders, said the Prudential Regulation Authority (PRA) failed to take action on the mammoth hole in the mutual's finances early enough and created a "false market" for the bonds.