Banks are ‘too detached’ from society admits Hester as taxpayer-backed RBS unveils £1.5BILLION of losses in wake of insurance mis-selling scandal

Banks have become ‘detached from society’ and need to change their culture, the boss of the Royal Bank of Scotland admitted yesterday. Stephen Hester said the industry has been ‘brought down to earth with a bump’ after recent financial scandals.He was speaking as the RBS reported a half-year loss of £1.5billion.

** N.B.RBS – Mis-sold Business Loans News Round up from the web. Please note that we accept no responsibility for any third party web site. News round up courtesy of Google. **

If you are a small to medium, size business that has been mis-sold a business loan with a swap interest rate product please do not hesitate to CONTACT US to see if you have a claim for compensation.

We possess an excellent track record of acting for RBS (Royal Bank of Scotland) bank customers in recovering compensation in many legal issues from contract disputes to financial mis-selling of insurance products and services. For further information on these business swap loans please contact us for free intitial advice, further reading visit business interest rate swap loan mis-selling.

If you have taken out a RBS business loan and was advised to take out a product along side the business loan that was suppose to protect you against the rise of bank loan interest rates, you may have a claim for business loan mis-selling.

After a review of the mis-selling of RBS business loans or swap loans, the FSA found that when properly sold, in the right circumstances to the right customers, these products can protect customers against the risk of interest rate changes. However, when sold to ‘non-sophisticated’ customers, likely to be smaller business which wouldn’t necessarily have specific expertise and understanding in this area, some products may not have been appropriate for their needs.

If you are a small to medium size business that has been sold a RBS business loan with a swap interest rate product pleasecontact usto see if you have a claim for RBS mis-sold interest rate swap compensation.

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