Mark Tami MP Pledges his Support for Bully Banks Campaign

Mark Tami MP has pledged his support for the Bully Banks campaign after a number of constituents have contacted him after being mis-sold Interest Rate Swap Agreements (IRSAs).

The Alyn & Deeside MP is pressing the Financial Conduct Authority for a quicker response to claims that banks mis-sold IRSAs to many small and medium sized businesses which led to high costs when interest rates fell.

Mark Tami MP said, ‘Sadly many businesses have had to close because of the mis-selling of these products and many others are still struggling with high costs and legal fees as they try to tackle the problem.’

‘The Financial Conduct Authority needs to act quickly to resolve this issue to help those businesses that are still struggling as a result of these loan agreements.’

Mark Tami MP is also a member of the All Party Parliamentary Group on Interest Rate Mis-Selling.