So Readers Digest UK, which sponsored the Most Trusted Brand Awards which voted LloydsTSB as Britain’s Most Trusted Bank for seven years running, has gone into administration.
Some small satisfaction there, methinks.
LloydsTSB was rated Most Trusted at a time when it was merrily mailing to its customers millions of unsolicited and highly toxic credit card cheques.
Virgin Media won the 2008 award for the most trusted ISP. And promptly had an ad campaign banned by the Advertising Standards Authority for misleading customers.
GOM always thought these Awards were flawed anyway. They were based on surveys of Reader's Digest subscribers - mostly dental receptionists and GP practice managers, I guess.
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This Most Trusted Brand thing sits oddly with Lloyds' position at the top of the Financial Ombudsman Service's twice-yearly list of worst complaints offenders. FOS received 19,881 cases about Lloyds in the six months to end December.
I suppose that's partly the price you pay for being big - but they could comfortably claim the Most Complained About award.
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