Interest Rate Swaps
What is surprising, as the 31 March deadline to make a claim looms, is that 6,000 customers needlessly sold these so-called Interest Rate Hedging Products have yet to complain out of 7,000 deemed eligible by the FCA.
Following on from my most recent two blog posts (here and here) on the subject of the ongoing interest rate swap mis selling
British banks have paid out only a fraction of the £3 billion designated to compensate SMEs mis-sold interest rate swaps products, drawing criticism from the business world and the financial watchdog.
George Osborne may celebrate the economy growing by 0.8%, but there are still more than 400,000 "zombie" businesses roaming
Banks continued to make sluggish progress in compensating small firms mis-sold complex financial products as the City regulator
Barclays has unveiled plans to raise £5.8 billion in cash from investors in a massive share sale in order to meet City regulators
First, a little background into the interest rate swap mis selling situation is perhaps required. Interest rate swaps were
Two of the biggest mis-selling scandals to hit British banks has forced Barclays to put another £1bn aside for claims, just
Bad news for banks, but good news for businesses on Thursday - The Financial Services Authority (FSA) has said it will investigate
The selling of interest rate swaps to Small and Medium Enterprises (SMEs), by the High Street banks, looks set to engulf those institutions just as they seem set to deal with the final froes of the PPI mis-selling pay outs.