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Bigger Than The PPI Scandal in Business Banking by Alastair Agutter

Bigger Than The PPI Scandal in Business Banking

It's bigger than the PPI scandal and regardless of what your Bank says, you have the right to sue for damages, negligence and deformation.


If you are a business, that has been declined a loan and with no good reason, other than the Bank telling you it is their underwriters decision, from the current onerous checks you have the right to claim.


90% of Businesses have a right to claim for damages, negligence and deformation. For we have been able to establish, where banks say it is a lending policy, as a result of a decline in credit, or lending to your business. It is only a mythical policy in the banks system and not policed in any form by the FSA, or the OFT.


Your right to sue the banks for damages, negligence and deformation, is based on the information published by the credit reference agencies and where that information is incorrect. Which is about 90% of the time, where you have the right to sue your Bank. For the decision has been based on published information that is not factual, untrue and defamatory. For any business to be declined a loan gathered on the wrong information and where the bank underwriters, have made that decision, where it implies you cannot pay the loan back, you are not good for the money, or your character, or your businesses character is in question, you have lawful recourse!


Publishing is publishing regardless, if its the Daily Mirror, Sun Newspaper, News of the World, a Credit Reference Agency! Information published on the web regarding financial details, or a disillusioned former member of staff writing, or publishing information untrue, it is deformation and an attack on your character or business regardless.


The direct recourse is with suing the bank for damages to the business and you as a Director, Partner, Sole Trader, or Directors. Whilst the banks may claim feebly it is information supplied by the credit reference agencies, that is no excuse and amounts to negligence, basing a business model, or procedure decision that is inherently flawed and plain wrong!


To sight a case example that shoots down any feeble comment out by the banks. If you are in a road traffic accident and hit the car in front and as a result a car behind collides with you. The law is, that for insurance claims. The person you hit can claim from your insurance and you can then claim from the person driving into you.


It is for the the bank, to pursue the Credit Reference Agencies, for publishing misleading and the wrong information. For as mentioned above, any form of publishing is liable, if it is derogatory and untrue.


Many businesses in the United Kingdom especially and are not getting funding. These are good fine businesses. Many are now going to the wall and this is wholly and morally unacceptable, by some fraught system and where the only defence, is for some wet from the banks to tell you it is policy!


From our intelligence gathering, the banking Ombudsman believed the policing of Commercial lending and oversight was with the FSA (Financial Services Authority), Wrong! The FSA informed us they are responsible for more market instruments, with regards to regulation, such as credit default swaps.


The FSA said the policy and oversight for Commercial Bank lending must lay with the OFT (Office of Fair Trading), Wrong! We contacted them and they confirmed to us, that they were not responsible for Commercial Bank Lending. They said, they are responsible for Private Bank Account and Credit Card issues.


The Office of Fair Trading was so concerned like we, that they suggested we contact the Secretary of State for Business at the Department of Business and Innovation and Skills. We spoke to the Department advising of our Findings and the administrator immediately gave us the Secretary of States email. Where we were asked to submit this information directly to Dr Vince Cable MP and also requested the Chancellor of the Exchequer be informed and the Treasury Minister Danny Alexander MP.


For the only way Britain is going to recover ever! Is if Small and Medium Businesses get the funding. For any murmurs of State infrastructure projects, is a pipe dream and will be on the drawing board in Councils and Government Departments for 10 years waiting for planning at least.


If you have been declined as a Business, it is a certain guarantee that the information published is in correct. The decision by the Bank to base their Judgement on this information is negligent. If as a result you have suffered, Financial loss to your business, or endured set backs to the business, you have every right to sue the Bank.


When a bank offers you a bank account for a business, or better terms from a previous bank. It is a product, regardless! It is no different to buying a Car, or an Phone. If there is a problem either product, you have the right to complain. If the product causes you harm, or damage, you are entitled to compensation. that is a fact, there is no distinction.


So if you have been lured to another business bank and promised support and delivery of the service they say, they will provide, but fail to do so? It is either one, or two things, Negligence or Fraud!


We have been for the past four years taking this Government to task over banking criminality. We are still asking where the £375 billion has gone, as we hear of another vast payoff this week, for Stephen Hester as he leaves RBS, a failed Bank and again being paid for failure!


The Government needs to get to grip and tackle this criminality in the Banking system. For the Authorities and the Banks are rotten to the core and the politicians, need to start implementing, some serious changes, or the Country faces social and economic collapse.


If you have had a bad experience with the banks please contact us! For we are seeking support from folk in the Community to work with us, to fight this outrage, that politicians are fearful to tackle.


Now finally, to really get your blood boiling! These recent fines to Banks in the UK. Guess where the money Goes? Not to the Government, or Treasury. But distributed back to the banks!!!



Related Book: My England A Broken Nation by Alastair R Agutter


Written by Alastair R Agutter
Last Modified and Updated: 25th April 2013
Alastair Agutter Author and Writer



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