News / MP asks if banks failing isles folk
NORTHERN isles MP Alistair Carmichael is asking islanders to report their experiences with banks after a government select committee report said they were failing their customers.
The Scottish Affairs Select Committee report, published yesterday (Tuesday), said the banking sector did not meet the needs of small and medium sized businesses.
The committee also criticised banks for placing pressure on staff to sell unsuitable financial products to personal banking customers.
Mr Carmichael is now calling for individuals and businesses that have had difficulties with their banks to consider sharing their experiences with him, in confidence.
He said: “The evidence that the committee heard in Westminster while we conducted our investigation into the banks was disturbing, if not wholly surprising.
“It is clear that businesses and families all over Scotland have been let down by the banks. Already I have heard from several companies in the northern isles who have had lending facilities withdrawn or revised unfavourably without negotiation.
“This is an issue which needs to be addressed by the government nationally, but it would be helpful to know just how many people have been affected locally by the withdrawal or amendment of essential lines of credit.
“I would encourage anyone who feels they have been treated badly by their banks to consider getting in touch. All personal details will of course be treated in the strictest confidence.”
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