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Labour investigates rate-swap sales

 

The Labour Party has launched an investigation into the alleged mis-selling of interest rate hedging products by banks to small and medium-sized businesses.

 

police-motor-boat_2211171b.jpgThe City of London. A public evidence session will be held today to kick off the investigation, which will look at better protecting consumers and businesses from potential mis-selling. Photo: Rex Features

 

 

 

 

 

 

 

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By Harry Wilson, Banking correspondent

 

9:49PM BST 16 May 2012

 

comments.gif5 Comments

 

 

Ed Mayo, the former chief executive of the National Consumer Council, will lead the probe which is designed to support calls for an amendment to the Financial Services Bill to make it easier for small businesses to bring collective actions against lenders.

 

A public evidence session will be held today to kick off the investigation, which will look at better protecting consumers and businesses from potential mis-selling.

 

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9270703/Labour-investigates-rate-swap-sales.html


 

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