RBS sells branches to Church of England consortium

The Church of England is investing in a new High Street bank, aiming to bring ethical principles to the banking sector. This move follows its previous financial involvements, such as advocating for reform at Barclays and challenging payday lender Wonga. The new bank promises to support local businesses and cap bankers' bonuses, but its influence may be limited due to modest investment. The initiative seeks to reorient the banking industry's moral compass, though its success remains uncertain.

What challenges does the Church of England face in influencing the banking sector?

In what ways could the new High Street lender potentially change the banking industry?