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Winchester businesses campaign against mis-sold products
BUSINESSES from Winchester flocked to Parliament protesting about the mis-sale of products by banks.
Winchester MP Steve Brine met constituents on October 24, ahead of the debate in Parliament, as part of the All-Party Group campaign which disputes the FCA’s redress scheme progress.
The scheme aims to compensate businesses that have been mis-sold products.
Steve Brine said: “The All Party Parliamentary Group (APPG) on interest rate swap mis-selling identified months ago that refusing to separate technical redress from consequential loss was having a highly detrimental effect on these businesses. It is very welcome news that HSBC and RBS are making a step in the right direction, and we urge the other banks to follow their lead.”
Winchester businessman, Bill Haslam, who is leading the national campaign group Bully-Banks, said: “The real difference in our campaign for justice for many small businesses mis-sold these damaging products has been the engagement of MPs. I have turned from a sceptic in our democratic system to really appreciate how great it can be.”
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