The Financial Services Authority (FSA) start taking reasonable steps to crack this issue with mis-selling banks. Read this story on telegraph.co.uk. The Financial Services Authority (FSA) is examining fresh claims that banks have mis-sold derivatives to small businesses following The Telegraph’s investigation over the past week. A City source said the FSA estimated that [...]
{ 0 comments }
Another story been published in telegraph.co.uk today for mis-selling interest swap to this young lady. Jessica Naraghi’s bank, Royal Bank of Scotland, required her to take out an interest rate swap to protect her from a debt she did not have Amateur property investors are caught up in the growing controversy over the sale of [...]
{ 0 comments }
Q What is an interest rate swap? A The bank offers customers the right to fix the base rate on a loan at a certain level to ensure a rise in interest rates will not lead to their borrowing costs becoming too high to pay back. The swap compensates the customer if interest rates rise, but costs [...]
{ 0 comments }
There is a big panic start happening in banking sector due to interest rate swap or loan hedging. Lots of complain has been filed to FSA. This article has been publish in Guardian.co.uk. The Treasury is to examine complaints made by hundreds of small businesses over alleged mis-selling of complex capital markets derivatives that generated [...]
{ 0 comments }