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TSB meltdown latest: Facepalming reaches critical mass as Brits get strangers' bank letters

LucreLout Silver badge

I seriously cannot see how they can get out of this mess, I know they have to somehow (they are a bank)

Ok, up front, I work for a bank - I've never made any secret of that.

I question the whole idea of TSB surviving. Surely it has reached the point where they are going to be overwhelmed with compensation cases, fines, and customers fleeing just as soon as allowable, and with such reputational damage, that survival becomes uneconomic?

Would it not be simpler to shutter the lot, and novate customer credit balances to other providers? I realise that means they have to figure out how to associate an account with a person correctly, but if you scrape away their web tiers etc and only looked at the core mainframe (it will be) data, you could do this quite quickly.

Banks should have been allowed to fail. Quite why labour ever bailed them out is a mystery to most of the industry - yes contagion had to be stopped, but crippling lloyds with the rotting remnants of RBS didn't really achieve that.

Let TSB go - its already dead it just hasn't realised yet.

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