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PPI Claim News - 22/1/2010

Bank Refunds: Banking stocks plummet as Obama targets 'bank greed'

Shares in some of the UK's leading banks have plummeted this week following US president Obama's war on the Wall Street banking giants.

Many investors have shifted their shares since Monday as the future of the banks looks uncertain. Across Europe the FTSE 100 has dropped by 1.1 per cent, the largest decline in over a month.

The banks were hit particularly hard with Barclays Plc showing a 6.2 per cent decline, while the Royal Bank of Scotland saw a drop of six per cent.

The figures have been attributed to President Obama's plans to shake up the US banking system in order to recoup the billions of pounds that taxpayers were forced to pump into the banks to save them from collapse.

In a statement the president said: "When banks benefit from the safety net that taxpayers provide, which includes lower-cost capital, it is not appropriate for them to turn around and use that cheap money to trade for profit."

His main aim is to ensure that banks do not "stray too far from the central mission". In order to achieve that goal the president has proposed tighter regulations across the industry.

For free advice on how to make a PPI ClaimPayment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19573352-ADNFCR

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