British banks hit by new mis-selling scandal

[charitynjw]

http://www.telegraph.co.uk/finance/n...g-scandal.html

All of the UK's major banks, including Barclays and HSBC, as well as taxpayer-backed lenders Lloyds Banking Group and Royal Bank of Scotland, are facing legal action which could lead to billions of pounds of damages for small and medium-sized businesses.

The businesses claim the banks profited at their expense from pushing them to take out highly complex interest rate derivatives....................

[Bill-K]

Re: British banks hit by new mis-selling scandal

Cheers Chas. If this is as widespread as it seems, I reckon Turbo and I are gonna need to brush up on our maths for this. :nerd:

[seduraed]

Re: British banks hit by new mis-selling scandal

The greed and total lack of ethics is totally astounding. Yey we hear the bankers saying they work for the goodof the country. Perhaps a change in the lawfor retail banking requiring the banks to advise in the interestts of the customer not the bank. Or maybe more SME proprietors should pay for independant financial adcice.