SME's and banks
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SME's and banks

posted in Business by Phillip Harris on 09:41 Jul 18th, 2018

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 MPs seek to level playing field between banks and businesses

The All Party Parliamentary Group for Fair Business Banking is calling for the creation of a specialist financial services tribunal to rule on disputes between banks and small businesses. Writing in the Times, APPG chair Kevin Hollinrake, says the group also wants to see the legal rights of small businesses enhanced by extending the so-called section "right of action" in the financial services and markets act to small businesses. Meanwhile, representatives of small businesses damaged or destroyed by the £1bn HBOS Reading fraud have met Andrew Bailey, chief executive of the Financial Conduct Authority, to share their concerns that a compensation scheme established by Lloyds Banking Group has failed to deliver a fair outcome.

Source: The Times   

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