Bully-Banks will hold a morning conference at the Central Hall, Westminster on Wednesday 8th October to highlight the consequences of the mis-sale of interest rate hedging products and hidden swaps upon businesses in the care sector.
Victims of the banks’ misconduct include owners of care homes, GPs, dentists, home care providers, chiropractors etc. Each of these businesses carries out vital work caring for the sick and injured.
The damage done to them is one of the most unsavoury aspects of this scandalous mis-sale of complex financial products by the banks.
Bully-Banks’ Chairman, Jeremy Roe stated:
“For the majority of businesses the adverse consequences of these toxic products were suffered by the owners of the business and their employees. In the case of the Care Sector the adverse consequences were often felt by the most disadvantaged members of our society whose homes and care were put at risk.”
Guto Bebb MP (Chairman of APPG on Interest Rate Swap Mis-selling) commented:
“IRHPs and Hidden Swaps mis-sold by our high street banks have damaged SMEs in many business sectors. The Care Sector is where one sees the most pernicious consequences of the banks’ misconduct. The accommodation and care facilities for many residents of care homes, many elderly people, many disabled people, many with mental illness, have been put at risk by the irresponsible greed of the banks.”
Source: Bully Banks