Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News - 31/3/2010

 
Bank charges: Banks are 'polluting the economic system'

As banks continue to operate relatively unregulated they are at risk of polluting the economy.

That is the opinion of financial commentator Anthony Hilton who wrote in the London Evening Standard that a proper debate needs to be formed in order to create a stringent reform on the banking sector.

"Whatever benefits they bring to individuals, banks impose costs by polluting the wider economic system just as cars put costs on people other than their drivers by polluting the atmosphere," he writes.

Mr Hilton went on to say that while regulations are in place to limit the level of car emissions, we are "still subsidising the banks' petrol with implicit government guarantees that they will not be allowed to go bust".

His comments come after the true scale of the banking crisis was revealed.

Measured in terms of lost global output, the economic downturn could be to the tune of between US$60 trillion (£39.6 trillion) and $200 trillion (£132 trillion), with the UK alone accounting for £1.8 trillion to £7.4 trillion of this loss, the news provider reports.

Both Lloyds Banking Group (LBG) and Royal Bank of Scotland have been bailed out by the government and are 41 per cent and 84 per cent taxpayer-owned respectively.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from LBG or RBS then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000.

Posted by Charles Baker
Charles is a reputed financial analyst with almost decades of experience under his beltADNFCR-2776-ID-19699344-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide