UTB is how the union bosses launder their money to support the Labour party. UTB is a small bank which because it has concentrated so much of it’s lending risk with one rather risky creditor – the Labour party – is obliged to make monthly risk reports to the FSA. No surprise that commercial banks are unwilling to risk lending to the Labour party.
Just had a quick look at the Labour loans reports, out of a total of some £23.4 m, just under £14m is owed to the Co-Op and it’s subsidary Unity Trust Bank. UTB is a joint venture with the unions.