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PPI Claim News - 16/2/2010

Bank Charges: Five year wait to get money back from banks

The UK taxpayer may face a five year wait before they can expect to receive a repayment on the billions of pounds in public money used to bailout several key banks.

UK Financial Investments (UKFI), which regulates the government involvement in part taxpayer owned banks RBS, Lloyds and Northern Rock, warns it could be as late as 2015 before it can sell publicly owned shares.

Even if the Treasury does manage to sell a majority stake in the banks, analysts have predicted that the government will be forced to retain some financial influence.

Conservative MP Michael Fallon, who is deputy chairman of the Treasury select committee, said: "I think everybody now is beginning to understand we're going to be left with this stake in the banks for several, perhaps many, years."

Some taxpayers have suggested that the banks should be forced to pay a late payment fee, in the way that consumers are often stung on their personal loans and credit card finance repayments.

Liberal Democrat Treasury spokesman Lord Oakeshott told the BBC he believes it is "inappropriate" that there is no real regulatory control over taxpayer funded banks.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges form.ADNFCR-2776-ID-19617593-ADNFCR

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