Banks face £1.5bn payout for mis-selling interest rate products

Britain’s big banks are facing another billion-pound-plus hit after the City watchdog told them to review all sales of controversial interest rate hedging products that have crippled some small businesses. The demand immediately caused Royal Bank of Scotland to warn that it will increase provisions related to the scandal from the £50m already set aside…. [Continue Reading]

Prosecute individuals involved if banks break the law

Eight in ten (78%) people think that where banks have broken the law individuals should be personally prosecuted. Consumers also continue to have low confidence in the Government to handle the banking crisis effectively, with two-thirds (66%) saying the Government will not act in their best interests when implementing banking reform. This figure has not… [Continue Reading]