The Financial Ombudsman Service (FOS) has raised questions about the FCA for not stepping in to the Payment Protection Insurance (PPI), and has criticised the industry for these mis-selling scandals being too common.
Financial Product Mis-Selling
It also told everyone that it is going to start publishing its following the government’s requests for greater transparency.
Mis-Sold Financial Products: News & Information
Interest Rate Swaps: Natwest, Fair & Reasonable Redress
Natwest Bank in London has begun a direct redress program for those small businesses affected by several interest rate swap products. These interest rate swap products or structured collars were sold to small businesses as a hedge against any risk associated with the interest rate markets. The small businesses or unsophisticated businesses were allowed to purchase these products. The 2008 financial crisis caused many of these hedging products to be of little value against interest rate changes. Small businesses were left with a financial bill that was significantly burdensome.
Interest Rate Swaps : FCA Fair & Reasonable Redress
The regulatory failings of bank interest rate swaps have left thousands upon thousands of disgruntled customers looking for redress. Fair and reasonable redress, including consequential losses, by the banks and the FCA helps put customers in the same position they would have been in if the regulatory failings had not occurred.
The exact definition of fair and reasonable redress is malleable as it varies from case to case. In each case, the testimony of the customer and the evidence is reviewed by an independent reviewer to determine the appropriate redress. Therefore, when discussing fair and reasonable redress, it is important to have an understanding of basic redress and consequential losses.
Mis-Sold Financial Products – Midlands, UK
Maple Leaf Financial has been dealing with mis-sold financial products for consumers for the past 10yrs. Maple Leaf Financial is based in the Midlands making it ideal to serve clients in the Midlands and the UK. Most of our clients had no idea there was a problem with their policies or investments before they spoke with us. You have nothing to lose by calling us to find out about your own financial arrangements.
Tim Capper reports on Financial Mis-Selling for Maple Leaf Financial. Our aim is to ensure you get honest advice and proper guidance to ensure a suitable recommendation can be made to pursue a financial claim
Latest posts by Tim Capper (see all)
- PPI Claims Currently Show No Sign of Slowing Down - December 10, 2014
- Swaps (IRHP) Determining the Level of Redress - November 3, 2014
- FCA updates PPI redress for 2.5 million old PPI complaints - October 27, 2014