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UK's Labour mulls moving loan from Co-operative Bank -sources
April 24, 2014 / 9:26 AM / in 4 years

UK's Labour mulls moving loan from Co-operative Bank -sources

LONDON, April 24 (Reuters) - Britain’s Labour Party is considering moving a 1.2 million pound ($2 million) loan with the troubled Co-operative Bank to Unity Trust Bank, which is controlled by the country’s trade unions, sources familiar with the matter said on Wednesday.

The sources said discussions were at an early stage and emphasised that Labour will continue to bank with the Co-op.

“We constantly review our financial arrangements and any decisions taken, including any consolidation of loans, are done for commercial reasons,” a Labour Party spokesman told Reuters.

Co-op Bank declined to comment. ($1 = 0.5960 British Pounds) (Reporting by Matt Scuffham; Editing by Laura Noonan)

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