Letter: We don't need a Halifax Bank
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.We don't need a Halifax Bank
Sir: In common with many households, we received some hefty literature giving details about the proposed conversion of the Halifax Building Society into a bank. I say "we" although it was solely addressed to my husband, even though we have always had joint accounts. The Halifax presumably does not consider women fiscally competent.
I did attempt to read this document, which seems more concerned about share allocation than the arguments for conversion. I searched in vain for a section putting a contrary view. There was none, yet there are compelling arguments against conversion. To keep share-holders sweet the cost of borrowing will go up and the rates of return on savings will go down.
Building societies were established to enable people to buy their own homes - not for people to make a financial killing. There is not exactly a shortage of banks in most high streets (although rural areas might appreciate the odd one).
GILLIAN BERG
Luton, Bedfordshire
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments