Co-op bank 'needs a further £400m'
%VIRTUAL-SkimlinksPromo%The Co-op's banking arm revealed a setback to its recovery today after admitting it needs to raise another £400 million to cover past issues.
The business, which is set to report full-year losses of up to £1.3 billion for 2013, said the matters relate to conduct and legal documentation, such as legacy PPI business and technical breaches of the Consumer Credit Act.