29.6.12
Sandra Osborne MP welcomes agreement that banks will compensate small businesses mis sold Interest Rate Swaps.
Britain biggest banks have agreed to compensate small & medium sized businesses that were mis sold business rate swaps after the regulator found “serious failings” in the sale of these complex financial products.
Sandra said –
“ I am pleased that swift action has been taken by the FSA following the review it carried out and the debate in the House of Commons. It was vital to avoid yet another long running mis selling scandal which destroys lives, businesses and public confidence. This also has had a detrimental effect on the vital contribution small & medium sized businesses make to economic recovery. Stepping up to the plate on this was the least the banks could do, the mis selling should never have happened in the first place, and only adds to the catalogue of shoddy practices that are being exposed on an almost daily basis.
Further information;
Sandra Osborne MP raised the issue in a debate in the House of Commons on 21st June on behalf of small businesses in Ayr, Carrick & Cumnock.
Sandra Osborne MP welcomes agreement that banks will compensate small businesses mis sold Interest Rate Swaps.
Britain biggest banks have agreed to compensate small & medium sized businesses that were mis sold business rate swaps after the regulator found “serious failings” in the sale of these complex financial products.
Sandra said –
“ I am pleased that swift action has been taken by the FSA following the review it carried out and the debate in the House of Commons. It was vital to avoid yet another long running mis selling scandal which destroys lives, businesses and public confidence. This also has had a detrimental effect on the vital contribution small & medium sized businesses make to economic recovery. Stepping up to the plate on this was the least the banks could do, the mis selling should never have happened in the first place, and only adds to the catalogue of shoddy practices that are being exposed on an almost daily basis.
Further information;
Sandra Osborne MP raised the issue in a debate in the House of Commons on 21st June on behalf of small businesses in Ayr, Carrick & Cumnock.