Banks attacked by small firms

0
Have your say

Britain’s big banks have been accused by MPs and the Federation of Small Businesses of a new mis-selling scandal that could destroy thousands of small firms and cost 80,000 jobs.

They say many companies have already gone bust after being sold complex hedging products, called interest rate swap a greements, which were supposed to protect them from interest rate rises, but ended up costing them a fortune when rates fell.