Loans to business borrowers investigated

The City regulator has ordered bank boards to step in and improve the way struggling small business borrowers are handled after uncovering widespread mistreatment of companies across the banking industry.

A Financial Conduct Authority review of 11 banks’ handling of borrowers who are in financial difficulty, including those struggling to repay taxpayer-backed pandemic loans, found “repeated instances of poor customer outcomes and failures to treat customers fairly”. – The Times

 

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