google-site-verification: googleb77b0e78d57c2188.html Tessa continues work to support local businesses’ grossly unfair treatment by high street banks - Office of Tessa Munt MP

Tessa continues work to support local businesses’ grossly unfair treatment by high street banks

TessaBullyBanks.jpgTessa attended the Bully Banks’ campaign day in Westminster to show her continued support for local small and medium-sized businesses damaged by appalling misconduct by the high street banks.

Bully Banks is a campaign group of nearly two thousand small businesses across the UK which were damaged by the mis-sale of four products: Interest Rate Hedging Products, (also known as Interest Rate Swap Agreements), fixed rate business loans, Enterprise Finance Guarantees and factoring services.

Tessa said:

“It’s absolutely outrageous that thousands of businesses are still suffering because the bankers failed to act honourably.  I have written to the Chancellor suggesting he demands that every bank delivers full and fair redress to the thousands of small businesses which have been damaged by their own bank’s inappropriate conduct.

“The mis-treatment of thousands of business by the banks has been disgraceful.  I will continue to do everything in my power to ensure justice is served and that businesses receive fair levels of redress.”

“It’s hardly surprising that those who have fallen prey to the banks are reluctant to come forward publicly, as on the face of it, it may look as though the banks hold all the power.  However, I am pursuing a number of cases individually as they are some of the worst examples of bank mis-selling, and I am taking my specific concerns to the Financial Conduct Authority.”

If your readers have been affected by these scandalous practices, then I will of course take up the case with a guarantee of complete anonymity.”

Jeremy Roe, Chair of Bully Banks said:

“Tessa’s support for the Bully Banks’ campaign has been invaluable in securing redress for thousands of small and medium-sized businesses across the UK, each of which has been the victim of mis-selling at the hands of our high street banks.   There’s a lot more to achieve, but we look forward to working closely with Tessa and other MPs in Parliament to resolve the ongoing problems”.

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