Bully Banks members angry over swaps redress
Businesses mis-sold interest rate hedging products are dissatisfied with the time banks are taking to issue redress under the FCA scheme, according to Bully Banks.
The interest group was set up by a group of business owners mis-sold hedging products to bring other similar businesses together against banks’ conduct.
It recently held a conference in Birmingham, where 600 members - including the head of the All-Party Parliamentary Group on Interest Rate Swap Mis-Selling Guto Bebb MP - attended to discuss legal updates, compare experiences of the redress process and share ideas.
Claims specialists All Square Treasury also attended and outlined...
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- Consequential loss
- Slowness of the scheme
- Opt in clause
- Redress scheme confidence