I’m really shocked by this. There is literally no story here!
Plus, this really irked me:
“Monzo, the fastest growing bank in Britain by new current accounts, has been accused of “going beyond the pale” by allowing its customers to get into debt to buy its shares.”
The quote in question (from the chairman of the Campaign for Fair Finance) actually says “It is never a good idea to borrow money to buy shares, unless one is a professional share trader. To do so in order to buy illiquid, unlisted shares in a relatively new company through a crowdfunding platform seems to us somewhat beyond the pale.”
i.e. it’s the person borrowing money to buy shares being accused of going ‘beyond the pale’, not the bank allowing them to do the borrowing!