Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Bank charges: Banks 'must compensate' mis-sold businesses

Banks should take "swift and decisive" action to compensate small companies caught up in the mis-selling of interest rate hedging products (IRHPs), a leading business lobby has said.

The Federation of Small Businesses (FSB) described the finding by the Financial Services Authority that 90 per cent of IRHP loans were mis-sold was a serious situation.

This week the FSA said Barclays, HSBC, Lloyds and RBS will start a full review of their sales of IRHPs to small businesses after a review found serious failings in the sale of the product.

"The FSA's report into mis-selling highlights the seriousness of the situation finding that 90 per cent of loans were mis-sold," said FSB chairman John Walker.

The FSB said it was pleased its concerns had been listened to but said it was still concerned payments haven't been automatically suspended and that there is still not a "clear route" for a business to appeal a decision.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801533087-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 B16, 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