MIS-SELLING OF INTEREST RATE SWAP PRODUCTS

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

That this House welcomes the Financial Services Authority's investigation into the alleged mis-selling of interest rate swap products by high street banks; expresses condemnation of such practices; notes the many accusations made by hon. Members' constituents against banks including making loans contingent on the purchase of interest rate swap products, failure to inform businesses about the associated risks, failure to properly explain high exit charges and attempts to silence people who seek compensation; further notes that many affected businesses are running out of time to claim compensation; and calls for the Government to ensure the investigation into this matter is thorough, that affected businesses receive adequate compensation and that banks found guilty of mis-selling are dealt with robustly.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

Social Democratic & Labour Party

5 July 2012

Foyle

Edwards, Jonathan

EDM (Early Day Motion) 336: tabled on 05 July 2012

Motion text

Signatures (37)