The interest rate mis-selling scandal took another twist recently when a landmark legal case was dismissed by the High Court. Had the case been successful it would have challenged the banks’ £2.1bn compensation scheme set-up to settle inappropriate interest rate swaps – however the decision only brings temporary relief for the banks. Background A judicial review … Continue Reading
The FCA’s review into the sale of interest rate hedging products by Banks has been ongoing since June 2012. Following a pilot phase, the full review started in May 2013 and over 17,000 businesses have been through the process. Most customers reviewed should now be at the stage where they have been offered basic redress (if … Continue Reading