Wyre Forest MP Mark Garnier attended the Bully Banks campaign day in Westminster yesterday to show support for SMEs damaged by the misconduct of banks.
The purpose of the Bully Banks “Brolly Day” campaign was to raise awareness of the ongoing problems with the interest rate swap mis-selling scandal.
Bully-Banks is a campaign group of over 1,700 small businesses throughout the UK who are campaigning to change the culture of high street banks so that such conduct does not occur in the future. It is currently campaigning on behalf of small businesses damaged by the mis-sale of Interest Rate Hedging Products, the mis-sale of fixed rate business loans, the mis-sale of Enterprise Finance Guarantees and the mis-sale of factoring services.
Mark Garnier said “It is extremely important to support SME’s across Wyre Forest who have been damaged by the misconduct of their banks and have been mis-sold products. The mistreatment of small businesses by banks is unacceptable and I will continue to support local businesses and to ensure that those affected receive proportionate redress.
The behaviour displayed by banks is worrying but it is encouraging that progress is being made. However there is still work to be done to ensure that the culture of banks is changed and the Bully Banks campaign is hugely important to this and in making banks take responsibility for their misconduct”