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divdiv class=story-body readability=47 span class=story-date#13; span class=date18 November 2013/span#13;span class=time-textLast updated at /spanspan class=time15:03 ET/span#13; #13;/span#13;#13; #13;#13;#13; #13; #13; #13; #13; p class=introduction id=story_continues_1An investigation has been launched at the Co-op Bank after its ex-chairman was filmed allegedly buying drugs./p#13; pPaul Flowers apologised at the weekend after the Mail on Sunday published video footage apparently of the deal./p#13; pHe has been suspended from both the Labour Party and the Methodist Church where he is a minister. /p#13; pThe Co-op Group said it was launching a fact-finding process to look into any inappropriate behaviour and a review of its democratic structure./p#13; pIt said in a statement: Given the serious and wide-ranging nature of recent allegations, the new executive management team has started a fact-finding process to look into any inappropriate behaviour at the Co-operative Group or the Co-operative Bank and to take action as necessary./p#13; pWest Yorkshire Police said it was making enquiries after Mr Flowers, 63, was reportedly filmed by an acquaintance he met online buying £300 worth of illegal drugs including cocaine. /p#13; span class=cross-head'Not influential'/span#13; pMr Flowers, who served as a Labour member of Bradford Council for a decade, has been suspended from Labour for bringing the party into disrepute./p#13; div class=story-feature narrow#13; a class=hidden href=#story_continues_2Continue reading the main story/a h2 class=quote“spanStart Quote/span/h2#13;blockquote readability=1p class=first-childThe Co-op was a bank that was up to its ears in bad lending”/p/blockquote#13;span class=endquoteEnd Quote/span#13; span class=quote-creditAndrew Tyrie/span#13; span class=quote-credit-titleChairman, Treasury Select Committee/span#13;#13; /div p id=story_continues_2He is also a former member of an industry and finance board for Labour, but party leader Ed Miliband said the board no longer exists./p#13; pAs I understand it the police are looking into this matter and I'm not going to comment on an ongoing investigation they have, Mr Miliband said./p#13; pA party spokesman said the board Mr Flowers belonged to was a relatively informal one and he was in no way influential./p#13; pBut Labour also said Mr Flowers had a meeting with Mr Miliband on 6 March this year - a meeting described as one resulting from the debate over banking reform./p#13; pa href=http://www.bbc.co.uk/news/business-24984680BBC business editor Robert Peston said Mr Flowers rose through the ranks/a of the Co-operative Group's political wing over a period of years./p#13; pHe said Mr Flowers had never worked in the banking sector in any senior capacity, but was appointed chairman of the Co-op Bank as a result of a power struggle within the co-operative movement./p#13; pHe said Mr Flowers' rivals in the movement were surprised and disappointed when the now-defunct Financial Services Authority (FSA) approved his appointment./p#13; !-- Embedding the video player --#13;!-- This is the embedded player component --#13;#13;#13; #13; #13;#13;#13;#13;!-- wwrights check --#13;!-- Empty country is used on test environment --#13;#13;#13;#13;div class=videoInStoryC readability=1#13; div id=emp-24978728-62850 class=emp#13; #13; #13; noscript#13; div class=warning readability=1#13; img class=holding src=http://news.bbcimg.co.uk/media/images/71166000/jpg/_71166435_flowers.jpg alt=Paul Flowers/pstrongPlease turn on JavaScript./strong Media requires JavaScript to play./p#13; /div#13; /noscript#13; #13; !-- embedding script --#13; #13; /div#13; !-- companion banner -- #13; #13; #13; #13; !-- END - companion banner --!-- caption --p class=captionMr Flowers appeared before the Treasury Select Committee earlier this month/p#13; !-- END - caption --#13; #13; #13;#13;/div#13;!-- end of the embedded player component --#13;#13;!-- Player embedded -- pAppearing before a committee of MPs earlier this month, Mr Flowers appeared to have no grasp of basic facts about the bank, our correspondent added./p#13; pThe Financial Conduct Authority, which has taken on some of the FSA's former responsibilities, said Mr Flowers underwent the appropriate interview process when originally coming on to the Co-op board [in 2009]./p#13; pThe BBC understands he faced a less rigorous interview when he became chairman, because at the time regulators did not see the posts of non-executive director and chairman as significantly different - though that has since changed./p#13; pDavid Jackman, head of ethics at the FSA until 2003, told BBC Radio 4's the World at One it was very disturbing that Mr Flowers had made it through the vetting procedure./p#13; pI think it is too easy for people to become directors of banks, he said./p#13; pBut there is a limit to what regulators can do and we really need to look to banks to police who they recruit./p#13; span class=cross-head'Bad lending'/span#13; pA senior MP who led an inquiry into banking standards said it had been clear Mr Flowers was not up to the job even before the newspaper revelations./p#13; pAndrew Tyrie, who chairs the influential Treasury Select Committee and headed up the recent banking standards commission, said MPs could see Mr Flowers was manifestly unsuitable for the job./p#13; pThere's also the track record of the bank, he added./p#13; pThe Co-op was a bank that was up to its ears in bad lending… and it did its full share of PPI mis-selling even as it was busy articulating its higher ethical principles. /p#13; pMr Flowers, who was chairman of the bank from April 2010 until June this year, appeared before the committee on 6 November./p#13; pThe Mail on Sunday said he was filmed buying the drugs days after being grilled by the MPs./p#13; /div/divbrbrcentera href=http://www.wizardrss.comPowered By WizardRSS.com/a | a href=http://www.wizardrss.comFull Text RSS Feed/a | a href=http://www.amazon.com/RFID-Blocking-Cards-Identity-Protector/dp/B00CJHZLEWRFID/a | a href=http://www.wpzonbuilder.comAmazon Affiliate/a/center