NAB+Virgin Money Remediation Support Group is set up to assist Members in obtaining recompense for damage to their businesses as a result of Clydesdale and Yorkshire Banks mis-selling business loans from 2000.
5.10.2021. JOHN GUIDI UPDATE – John gets a positive court decision against Cerberus.
Business Banking Resolution Service - UPDATE 12th January Letter to Kevin Hollinkrake APPG FBB from Chris Parry There is considerable concern across the spectrum of victims of all the various business banking abuses, various victim and SME representative bodies and SME businesses generally at the BBRS going live as presently constituted. This includes that the BBRS as it stands is not a ‘step in the right direction’ in the sense of either being fit for purpose or as the herald or start of something which can/will then progress further. READ MORE.
Virgin Money PLC (VMUK) Share Price as at dates below.
Friday 10 August 2018 – 353 p per share
Wednesday 30 January 2019 – 184 p per share (2019 AGM)
Monday 12 August 2019 – 146 p per share (-60%)
Thursday 30 January 2020 – 176 p per share (2020 AGM)
Check the current share price here: (opens in a new window).
On the SAME day CYBG CEO David Duffy sold circa £272K in shares AND received circa £564K in gifted (cost to him £0) shares (this after selling c £345K in shares on 18 February 2019 and received circa £725K in gifted shares (cost to him £0).
David Duffy CYBG CFO colleague Ian Smith sold circa £84K in shares AND received almost circa £169K in gifted (cost to him £0) shares (this after selling circa £106K in shares on 18 February 2019 and received circa £218k in gifted shares (cost to him £0).
This is after the Melbourne AGM on 30 January 2019 had 34.2% vote against the remuneration.
CYBG Virgin Money Anne Peters Hunger Striker Banner
In Parliament / Regulator
Transcript :-
TSC meeting 17 June 14 – Oral evidence David Thorburn & Debbie Crosbie
10 March 2015 Treasury Select Committee – Conduct and Competition in SME lending.
24 October 2018 TSC report – SME Finance, (refer to page 37 paragraph 109 – 110)
2 August 2019 TSC report The FCA – the perimeter of regulation
The Treasury Committee and the perimeter
13. Concerns about the perimeter and its complexity have featured in the work of previous Treasury Committees. The Treasury Committee in the 2010–15 Parliament concluded in its Report Conduct and competition in SME lending that so-called Tailored Business Loans (TBL) sold by Clydesdale bank had specifically been designed with the perimeter in mind:
From the point of view of the customer, the services provided by the hedging element of a loan with an embedded interest rate hedging facility—such as a Tailored Business Loan—and a stand-alone IRHP [Interest rate hedging product] are extremely similar, if not identical. But stand-alone IRHPs are regulated, while loans with embedded interest rate hedging facilities are not. It is a logically inconsistent result of the perimeter of regulation that products whose effects may be identical fall on both sides of the perimeter.
Clydesdale understood that TBLs were unregulated. It created TBLs to avoid requirements imposed by the regulator on the sale of a regulated product, IRHPs. It claims that this was to simplify the associated documentation and to make the product easier for customers to understand. The use of TBLs has left regulators powerless to enforce compensation for customers to whom products were mis-sold, as they have done with IRHPs. Clydesdale created a product that retained the risks and complexities of the regulated product but had none of the safeguards. 11
14. Issues around the perimeter have also been present in the work of the current Treasury Committee. The following list provides examples of topics the Committee has considered or queried that have elements of perimeter complexity to them:
- RBS’ Global Restructuring Group (GRG), and the wider issue of SME lending.
- ‘Mortgage prisoners’ (those who face barriers to switching their mortgage).
- The failure of London Capital and Finance, and wider questions around the regulation of so-called ‘mini-bonds’.
- The regulation of Cryptoassets.
- The regulation of Funeral plans.
15. Many of these issues have seen significant harm done to consumers and small businesses. For example, in the course of its work, this Committee has heard first hand the considerable distress to SME owners brought about by RBS GRG. In part, it led this Committee to initiate its wider inquiry and Report into SME Finance. Subsequently, there has been widespread disappointment at the FCA’s inability to take action following its publication of its Report on the Financial Conduct Authority’s further investigative steps in relation to RBS GRG, due to the constraints of the Perimeter.12 Mr Bailey, when asked whether he would recognise that “there will be individuals out there who feel they have not had justice?”, replied “Yes, but I cannot operate outside the law. I am sorry”.13
16. The perimeter of regulation, as has been seen in the Committee’s work, appears to be confusing for consumers of financial services, whether they be individuals or small businesses. In fact, that lack of understanding may well be preyed upon. Some firms may also deliberately game the perimeter to undertake regulatory arbitrage.
17. Care needs to especially be taken where regulated financial institutions are undertaking an activity that is itself unregulated. Often the realisation that an activity is unregulated comes only after problems emerge, and the regulator’s lack of power becomes apparent to those affected.
18. The Committee recommends that where regulated financial institutions undertake unregulated activity, the regulatory system should ensure that clear and explicit warnings are provided at that point, with the potential consequences of the lack of regulatory cover clearly explained, with sanctions for firms that fail to do so. HMG / HMT response to the report is outstanding.
HMT response to Regulatory Perimeter report on 10 October 2019 Interim Chair Catherine McKinnell said “It was disappointing <..> that the Government does not see the case for providing a formal power for the FCA to request changes to the perimeter.”
In the FCA’s response, which the Committee received on the 14 October and has published today, Andrew Bailey, Chief Executive of the FCA, said: “We share the Committee’s view that there could be a more structured and transparent approach for identifying and engaging with HMT on perimeter changes. This could allow for a regular opportunity to consider what activities are covered by regulation, and hence transparency surrounding changes to the FCA regulatory perimeter.”
Commenting on the FCA’s correspondence, Ms McKinnell said:
“The Treasury Committee has recommended that the FCA is given the formal power to suggest changes to the Government over what it regulates, which could help the FCA to protect consumers.”
“Disappointedly, yet perhaps unsurprisingly, the Government rejected our recommendation, opting instead to keep the opaque system as it is.”
“The independent FCA, on the other hand, shares our view, rather than the Government’s that a more formal or structured approach would provide greater transparency to the process”
“The Committee awaits the work promised by both the FCA and the Government, and we will continue to raise these issues in our evidence sessions.”
Some background
31 October 2017 Brian Little email exchanges with SS – then Parliamentary aide to John Mann MP
SS – Great re John’s Perimeter Question / comment at TSC this morning, following our discussion and sight of the attached letter from my MP Jim Shannon
Hi Brian, “Yes—the main committee sent it to us as part of their briefing back on Friday. Hope that you felt the questioning covered good ground.”
Q50 John Mann: ………………. One final question/request is that you referred earlier to things being outside the regulatory perimeter. I have heard that before from you and your predecessors, and indeed on a totally separate issue with the Advertising Standards Authority, which is in similar dialogue over your powers in terms of currency exchange.
Andrew Bailey: That is not a perimeter issue.
Q51 John Mann: It is indeed. It is an entirely different aspect. In terms of my question, would you be prepared to provide to this Committee—and it might take some time, but we are not in a rush—the precise areas of powers that you do not have that it would be useful for this Committee to consider whether you should have, both in relation to the GRG issue and what you describe as being outside the regulatory perimeter, but perhaps for other issues as well? That is something that we have never had. It is a big piece of work but, for a new Committee coming into a five year Parliament — possibly, legally, that is our presumption and our mandate is for five years—it would be significantly useful to the work of this Committee. I am not asking you which ones you desperately think you should have, and we might come back to you on that of course, but which ones you do not have so that, when you are saying, “We cannot do it,” be it in correspondence or be it in exchange, we are clear, so we can think through what our responsibilities and powers are to change that.
Andrew Bailey: The answer to that is yes. I agree with you it is a good idea. It is a good idea also because, as I said earlier, it has changed in interpretation as a result of the senior managers regime, which we are still introducing by the way, because we have a very big roll-out of that to the non-bank world next year, so I agree with you. We know the case we are talking about. The issue with the Advertising Standards Authority is we do not think we have the power to enforce their decision. It is not really a perimeter issue.
John Mann: I am sure in a future meeting we will come to that. The Chair would rule me out if I went on to that now, although it is a very important issue. I would need several questions, so I will defer that.
Founding Principle
… ‘Australia needs stability in its banking sector. So does Britain. To bring it about, banks everywhere need to do far more to truly act in their customers’ interests, as opposed to being as aggressive as possible over issues such as remediation for past wrongs… Will it happen? Sadly, I doubt it.’…
Katherine Griffiths is Banking Editor of The Times UK – 23 Jan. 2019
As a strategic business opportunity, indeed necessity, we challenged the CYBG PLC Chairman, CEO and Board directly at their recent AGM to prove Katherine’s well-founded scepticism wrong and truly set CYBG out as a different UK Bank now!
CYBG Remediation Support Group presents our latest video clip which includes extracts from the Clydesdale Bank (CYBGPLC) 2019 shareholders AGM in Melbourne, Australia on 30 January 2019, including a significant and important business strategy presentation by the Chair Jim Pettigrew and CEO David Duffy.
Also included is some media coverage in the few days before and after the AGM. Mr Ian Lightbody from NABCSG makes some comments and poses three questions during Q&A as well as a number from Australian Bank Warriors.
Towards the end of the video clip (42 mins), you will hear Jim Pettigrew refer to meeting Ian Lightbody after the AGM, which took place with the Australian Bank Warriors, one of whom recorded the discussion which can be heard here and a transcript of the discussion, here.
Underpinning some of those CYBG answers at the AGM are the supplier code of conduct, published on the CYBG website on page 6, (PDF Link here).
‘We value integrity, fairness, honesty, respect, consistency and collaboration as the hallmarks of good relationships’.
The CYBG Remediation Support Group expects Members to reciprocate the conduct and behaviour they encounter at all levels of CYBG PLC.
If you are a victim of Clydesdale Bank or Yorkshire Bank (CYBG PLC) then please contact us via email to [email protected], scanning any of your loan facility letters to verify your identity.
1) Pettigrew Esq. Chairman. 2) Duffy Esq. CEO.
CYBG PLC
Floor 15 The Leadenhall Building
122 Leadenhall Street
London
EC3V 4AB
4 February 2019
Dear Jim / David,
CLYDESDALE BANK
Message from Andrew Bailey FCA CEO for the CYBG Remediation Support Group inaugural meeting:
“The FCA is firmly in support of satisfactory resolution of past cases involving banks and small firms, including tailored business loans. We agree that the framework proposed by the Walker Review should be developed to provide effective arbitration and resolution which is independent and fair. It is important that the design and oversight of these arrangements reflect the views of all parties.”
Message from Jim Shannon, MP for Strangford, (DUP), for the inaugural group meeting, can be found in the members’ area.
In the newspapers / Useful Links for CYBG Bank Victims
SME ALLIANCE – Website for victims of Banks generally
Nab Customer Support Group – website for victims of National Australia Bank & Clydesdale Bank
AUSTRALIAN BANK WARRIORS – Our friends from OZ!
Channel 10 News, calls for proper Banking Royal Commission
Kenneth Hayne QC provided the Royal Commission the banks wanted. He only looked into simple matters that the banks already admitted to. He failed to look into complex misconduct matters that the banks are still not admitting to. The Final Report is littered with errors. The CBA unconscionable foreclosures of Bankwest small business customers needs to be investigated at a proper Banking Royal Commission. Commissioner Kenneth Hayne’s errors will be highlighted at this new Commission, so that no future Royal Commissioner performs as poorly.
23 October 2015 – Irish Times – Cerberus set to buy €6.25bn Nama loan portfolio for €800m
24 February 2018 – Dr Evan Jones – The parlous history of NAB’s Clydesdale Bank (Part 2)
14 November 2018 APPG Position Statement Final
19 November 2018 – Times – Fair banking plans ‘will not help firms’
11 January 2019 – Times – Small firms lose battle for bank dispute tribunal
16 January 2019 – Herald Scotland – Clydesdale berated for ‘browbeating’ small business client
28 January 2019 – Times – City regulator denies failings after leaking whistleblower’s complaints
31 January 2019 – Times – Shareholders rebel against bank chief’s huge pay rise – Patrick Hosking
18 February 2019 – Times – OP-ED – Wide support for a financial services tribunal, act now – Stewart Hosie MP – Member of the Treasury Select Committee
25 February 2019 – CYBG snubbed for RBS funds
8 March 2019 – Times – Victims ‘won’t trust’ bank redress scheme for small companies
11 March 2019 – Times – Bankrupt businessman in CYBG hunger strike
12 March 2019 – SME ALLIANCE related documents – Press Release
19 March 2019 – Hansard Link to Urgent Question regarding John Guidi ‘Hunger Strike’ in the Lords.
20 March 2019 – The APPG Accepts its Place on the Implementation Steering Group.
21 March 2019 – John Guidi agrees to suspend hunger strike – Scottish Daily Mail.
21 March 2019 – John Guidi agrees to suspend hunger strike – The Times.
22 March 2019 – Transcript of the meeting with the Press Association after CYBG meeting on Friday 22nd March at 7.15pm – photo of the three of us
26 March 2019 – Photo of the Leadenhall CYBG RSG ‘cohorts’ at Leadenhall.
29 March 2019 – Letter to David Duffy from Kevin Hollinrake.
2 April 2019 – APPG ISG Update in relation to the DRS Scheme.
2 April 2019 – Letter to David Duffy from Kevin Hollinrake.
3 April 2019 – Times – James Hurley – Big Banks ready to extend Dispute Scheme.
4 May 2019 – William Turvill – Mail on Sunday – Article on Cerberus – Hounds of Hell.
6 May 2019 – Adele Ferguson – NAB facing fresh UK loan refund threat.
7 May 2019 – PARLIAMENT. Hansard – Banking (Consumer and Small Business Protection).
9 May 2019 – Rachel Wolcott – Thomson Reuters – Senior Managers accountable for SME treatment.
CONDUCT, CAPITAL – Half Year 2019 CYBG PLC Earnings Call
23 May 2019 – Reuters – Banks Gamed FCA & SME’s.
5 June 2019 – Times – Help is long overdue for homeowners trapped in expensive mortgages>
21 June 2019 Rachel Wolcott, Regulatory Intelligence, Reuters: FCA’s 15-month interest-rate swap redress review to hinder claims, say industry officials.
David Duffy: ‘It’s a tough thing to do but you’re building something that could be very disruptive and irritating for the other big banks, which fills me with great pleasure’
25 July 2019 Times James Hurley : Walkout threat hits bank compensation scheme for small firms
4 August 2019 Now I can bale out of RBS, says Kiwi Mr Fixit Ross McEwan
4 August 2019 – Sunday Times – Andrew Bailey warns Boris Johnson
18 August 2019 Emma Dunkley : struggling Clydesdale and Yorkshire Banking Group faces fresh hit from PPI
19 August 2019 Times James Hurley : Use RBS dividend to compensate small companies mistreated by banks
22 August 2019 Lindsay Rogerson, Regulatory Intelligence, Reuters : Business Banking Resolution Scheme on track for UK Launch at end of year
24 August 2019 – Times – Hunger strike over bank “whitewash”
25 August 2019 – Mail On Sunday – Nationwide Hunger Strikes
25 August 2019 Guardian UK banks face week of hunger strikes and protests
27 August 2019 letter to David Duffy from Stephen Kerr APPG
30 August 2019 MPs back businessman on hunger strike at Clydesdale Bank
31 August 2019 Times MP attacks Clydesdale Bank over hunger striker John Guidi
2 September 2019 – Times – Clive May; RBS story & EFG
6 September 2019 – Times -Sir Richard Branson counts cost as Clydesdale Bank rocked
6 September 2019 – FT -CYBG pays the price for not knowing its share of PPI
6 September 2019 – Irish Times – David Duffy led CYBG’s share plunge
7 September 2019 – Times – Banks accused of forging signatures
8 September 2019 – Mail on Sunday – Bank under pressure as granny turns hunger striker
10 September 2019 – Times – Banks’ payouts in PPI scandal will reach £50bn
10 September 2019 – Times – Pressure on National Crime Agency for action over bank forgery claims
10 September 2019 – Times – PPI scandal – The cash cow that turned sour
“Speaking yesterday as she began her second day outside Clydesdale Bank’s headquarters in Glasgow, she said : I’ll continue with the hunger strike as long as it takes”
Then in a Mail on Sunday 22 September 2019 extract “It is understood that Financial Conduct Authority boss Andrew Bailey took a personal interest in the hunger strikes and helped to persuade protestors to stand down.”
17 September 2019 – Times – Collateral damaging for Bailey
18 September 2019 – Times – It may be too early to draw a line under banks fake signature scandal
“NAB now has in place provisions for the estimated costs and customer payments relating to all known customer-related remediation matters based on information currently available. However, until all customer payments have been completed , the final cost of such remediation matters remain uncertain.”
4 October 2019 – letter to Lewis Shand-Smith from Kevin Hollinrake regarding BBRS
8 October 2019 – Reuters – BBRS scheme update
10 October 2019 – CITY AM – HMT – TSC – Regulatory perimeter
10 October 2019 – FT Advisor – Government denies new powers to FCA
11 October 2019 – Reuters – HMT – TSC – Regulatory perimeter
11 October 2019 – Times – Financial Conduct Authority to be denied extra powers
12 October 2019 – Times – Business commissioner Paul Uppal leaves over conflict of interest
14 October 2019 – Times – storm clouds gather over banks bid to make peace
14 October 2019 – FT – Opinion Inside Business – Accounting – prudence
15 October 2019 – Salisbury Journal – John Glen constituency office
17 October 2019 – FCA response – TSC regulatory perimeter
17 October 2019 – Times – Watchdog frustrated by inaction on new powers
18 October 2019 – Reuters – TSC on FCA perimeter
28 October 2019 – Times – Andrew Bailey interview – SMEs
31 October 2019 – Reuters – UK TSC chair’s company counts big banks as customers
1 November 2019 – SME Alliance Press Release
25 November 2019 – Reuters – BBRS update
27 November 2019 – Times – HBOS compensation report delayed for a second time
28 November 2019 – Times – Former financial regulator to mediate in bank clashes
11 December 2019 – Times – Lloyds forced to reopen HBOS Reading fraud compensation scheme
14 December 2019 – Bank protester takes his fight down under
18 December 2019 – JOHN GUIDI SCOTTISH HUNGER STRIKER – APPLICATION FOR PUBLIC AGM OF NAB
22 December 2019 – Times – BoE Governor Andrew Bailey
8 January 2020 – Times – Ministers need to put some pride back into the City watchdog
11 January 2020 – Times – Banks forging signatures on industrial scale
20 January 2020 – Sunday Times – 5m deal for Virgin Money boss David Duffy tees up investor revolt
21 January 2020 – Times – Johnson set to clash with banks over lending gap
21 January 2020 – Times – Lloyds Bank halts small business lawsuit after Andrew Bailey steps in
24 January 2020 – Times – Britain badly prepared for market crash says Andrew Bailey
24 January 2020 – Financial Times – Virgin Money UK Bank – Pettigrew retirement
25 January 2020 – Times – Police can’t cope with avalanche of fraud cases
26 January 2020 – Mail on Sunday – Lloyds bill over HBOS fraud debacle could climb to £500m
29 January 2020 – Reuters – bank conduct crossroads
29 January 2020 – SOFT LAUNCH; Banking Victims For A Future 2020 + – Open Letter to PM
29 January 2020 – Times – Virgin Money boss may deserve his multimillion pay one day – but not yet
30 January 2020 – Times – Sack John Glen now
30 January 2020 – FT – Virgin Money PLC Virgin Money suffers shareholder revolt over pay
31 January 2020 – Virgin Money UK CFO to step down
31 January 2020 – BBC – Troubles victims pensions BBC
4 February 2020 – Hansard – Lloyds, HBOS and the Cranston report
4 February 2020 – Yorkshire Business – Directors to step down from Virgin Money UK board
5 February 2020 – Times – Life in the hot seat will be no bed of roses for the new boss of RBS
9 February 2020 – Mail on Sunday – Virgin Money joining race for hard-pressed customers
9 February 2020 – Sunday Times – Beware of the watchdog
10 February 2020 – Times – Top bankers risk shareholder revolt over £10m pay awards
11 February 2020 – Reuters – Mortgage Prisoners FCA see case for law change
16 February 2020 – Times – New chancellor Rishi Sunak cashed in on fund that helped break banks
20 February 2020 – Times – History proves a guide to solving disputes
29 February 2020 – FT – Criticism mounts for Farcical RBS-funded scheme
2 March 2020 – Times – Treasury to pocket £5bn from Northern Rock
4 March 2020 – Times – RBS switch scheme to be reformed
6 March 2020 – Reuters – BBRS Cranston
6 March 2020 – FT Advisor – TSC – FCA
8 March 2020 – Sunday Times – New Bank boss must act to put out a fire that nobody foresaw
8 March 2020 – Sunday Times – How to handle challenger banks
8 March 2020 – Sunday Times – Virgin Money ditches foreign currency fees for debit cards
11 March 2020 – BOE interest-rate-cut- transcript Press Conference Highlights
12 March 2020 – Reuters – FCA’s Bailey says mortgage prisoners face “real harm”, calls on all lenders to treat
customers fairly
12 March 2020 – Reuters -COVID-19 bank support package
18 March 2020 – Times – Banks have a chance to right the wrongs of the last financial crisis
18 March 2020 – Times- Cash lifeline is promised for homeowners and businesses
19 March 2020 – Times – Andrew Bailey pledges unlimited loans to stop companies going under
19 March 2020 – FT – MPs urge govt to extend FCA powers
20 March 2020 – Times – Coronavirus loan scheme will fail small businesses
20 March 2020 – Times – CORONAVIRUS Scrap Bonuses Buybacks etc
20 March 2020 – COVID.19 – Reuters – Bank of England Governor, UK lawmakers warn industry against
21 & 22 March 2020 – UK Finance advertising PR – Working together to support the Nation
22 March 2020 – Sunday Times – Coronavirus the dash for the door
22 March. 020 – Sunday Times – Rishi Sunak’s pledges sow hope – and confusion
22.March 2020 – Times – We can’t let bosses hold us to ransom again
24 March 2020 – Times – Conronavirus Business customers struggle to contact banks for crisis loans
24 March 2020 – Times – CORONAVIRUS Lenders take hit on fees to support new loan scheme
24 March 2020 – Times – Conronavirus Business customers struggle to contact banks for crisis loans.
24 March 2020 – Mortgage Prisoners – Payment holiday letter
25 March 2020 – Times – Companies could wait weeks for rescue loans
25 March 2020 – Times – Bank activates liquidity plan to ensure lenders have funds
25 March 2020 – Times – Cash may no longer be king, but it’s vital that we have access to it
26 March 2020 – Times – Emergency loans prompt fury among directors
26 March 2020 – Times – Remember the heroes and villains of this crisis
26 March 2020 – Times – Banks urged to scrap billion pound payout
27 March 2020 – Times – CORONAVIRUS – Banks give way on rescue loans after outcry over terms.
27 March 2020 – Times – CORONAVIRUS – We’ll do whatever it takes, central banks vow
27 March 2020 – Times – Bank urged to put block on £7.5bn dividends
27 March 2020 – Times – CORONAVIRUS – Small firms most fearful as economic confidence sinks
27 March 2020 – Times – Coronavirus prompts No 10 to suspend housing market
27 March 2020 – Times – Trail of destruction left by virus is worse than 2008
27 March 2020 – Times – Hi ho silver lining. Every crisis has its heroes and its villain.
29 March 2020 – Sunday Times – We saved the banks in 2008 – now they are failing us
29 March 2020 – Times – Coronavirus – FCA summons council of war
29 March 2020 – Sunday Times – Capitalism won’t be killed by the coronavirus
30 March 2020 – Times – Stop bank dividend payouts, Andrew Bailey told
30 March 2020 – Times – Business must agree a new social contract with voters to restore trust
30 March 2020 – Times -Tough economic decisions will litter the road ahead once Covid over
30 March 2020 – Times – Britain faces 6 months of coronavirus curbs
31 March 2020 – Times – Sting will be in the tail of remarkable but vital action to rally economy
31 March 2020 – Times – Banks face losses in the billions as loans go bad
31 March 2020 – Times – One in five small firms may be forced to shut for good
31 March 2020 – Times – Confidence swings into a downward spiral
31 March 2020 – Times – ANALYSIS – Dividend payouts leave banks with painful dilemma
31 March 2020 – Times – BUSINESS COMMENTARY – Barclays Blunder
31 March 2020 – Times – Concessions on ‘wrongful trading’ risk causing serious consequences
1 April 2020 – Times – Dividends are thorny issue for banks
1 April 2020 – Times – Confidence slumps to lowest level on record
1 April 2020 – Times – MORNING BRIEFING
1 April 2020 – Times – Banks must resist urge to swill champagne when the crisis is over
1 April 2020 – Times – Banks scrap dividends and bonuses under pressure from regulator
2 April 2020 – Times – Bankers show we’re not in it together
2 April 2020 – Times – Companies expect to run out of cash within weeks
2 April 2020 – Times – Prolonged lockdown will ‘trigger a rebellion’
2 April 2020 – Times – Confidence among manufacturers slumps to lowest level on record
2 April 2020 – Times – Why Bank had to crack whip to get dividend ban
2 April 2020 – Times – Banks are in an invidious position but have vital role in any recovery
2 April 2020 – Times – Bailout scheme to be overhauled for small businesses
3 April 2020 – Times – We’ve been betrayed, say the small firms fighting for survival
3 April 2020 – UK HMT – Press release – Business Interruption Loan scheme
3 April 2020 – SME.Alliance – Press Release
3 April 2020 – BBC – Small business worry coronavirus loans
4 April 2020 – Times – Virus brings UK economy to its knees
4 April 2020 – Times – Companies close doors to investors at annual meetings
4 April 2020 – Times – Business lending U turn at Nationwide
5 April 2020 – MoS – Jacob Rees-Mogg’s firm is accused of profiteering from coronavirus
5 April 2020 – Sunday Times – The Treasury must mend its flawed
5 April 2020 – MoS – Economists warn the UK economy could shrink by an eye
5 April 2020 – Sunday Times – We’re staring at a Great Depression
5 April 2020 Mail on Sunday – JEFF PRESTRIDGE Banks are hardly covering themselves in glory
5 April 2020 – Sunday Times – How do you model a crisis like the coronavirus
6 April 2020 – Times – Small companies are riding to the rescue of country in crisis
6 April 2020 – Times – If we’re truly all in this together, executives need to feel the pinch on pay
6 April 2020 – Times – Lockdown to cost £2.4bn a day as economy crashes
7th April 2020 – slow burn LAUNCH – Banking Victims For A Future 2020 + (BVF2020+)From today we will only publish occasional relevant articles as this website is now in maintenance mode.
11 April 2020 – Times – No way out for the prisoners of the last financial crisis
12 April 2020 – Sunday Times – Bungled bank coronavirus loans leave small firms on the brink
12 April 2020 – Sunday Times – Coronavirus brings the corporate pay party to an end
13 April 2020 – Times – Crunch week looms for small companies’ emergency grants scheme
13 April 2020 – FT – Auditors clash with directors over the question of ‘going concern’
15 April 2020 – Times – Support schemes are failing to help vast majority of small businesses
15 April 2020 – Times – Worst slump since the 1930s
15 April 2020 – Times – Emergency cash is not reaching small businesses
15 April 2020 – Times – Two million could lose jobs in the coronavirus lockdown
16 April 2020 – Times – Companies demand clarity on business interruption loan figures
17 April 2020 – Times – Banks are blaming EU for their loan failures
17 April 2020 – Times – Banks lining up to claim their dues
17 April 2020 – Times – Treasury’s Covid-19 dilemma as it counts cost of tearing up loans rulebook
18 April 2020 – Times – Bailey leans toward 100% guarantee for state credit
19 April 2020 – Times – Sam Woods interview. I had to threaten the banks over dividends
19 April 2020 – Times – Crunch time for companies as Rishi Sunak is pushed for 100% loans
23 April 2020 – Times – Lockdown risks ruining economy
24 April 2020 – Times – Emergency loans are doubled in ‘crunch week’ for small firms
24 April 2020 – Times – Treasury’s dash for cash to fund rescue
24 April 2020 – Reuters – BBRS update
28 April 2020 – Times – Coronavirus.Small businesses invited to take loans of up to £50,000
29 April 2020 – Times – Fear of fraud in state-backed loans for smaller companies
29 April 2020 – Times – Profitability is going to be a bigger issue than ever for banks
29 April 2020 – Times – Bank bosses are investigated over ‘abuse’ during equity-raisings
30 April 2020 – Times – Bank of England rode to government’s rescue as gilt markets froze
1 May 2020 – Times – Emergency coronavirus loans pass £4bn but approval rate is slowing
2 May 2020 – Times – Emergency company loans to be pitched with 2.5 interest rate
5 May 2020 – Times – Banks have got ahead of the curve when it comes to cheap money
5 May 2020 – Times – Small firms have big problems, CBI survey reveals
5 May 2020 – Times – Flood of virus loan requests
6 May 2020 – Times – Virgin Money stumbles as 100, 000 seek loan holidays
7 May 2020 – Times – Sharp slowdown could leave lenders with losses of £80bn, says Bank of England
7 May 2020 – Times – Coronavirus pandemic could cause deepest recession on record
7 May 2020 – Times – Banks face £25bn loan default bill
8 May 2020 – Times – Delays to bank loans ‘put small businesses at risk
12 May 2020 – Times – Small firms risk being buried under £105bn debts
13 May 2020 – Times – 1 in 3 small firms may shut for ever, warns FSB
13 May 2020 – Times – Small firms snap up £8bn emergency loans in a week
21 May 2020 – Times – Bank governor Andrew Bailey warns companies to raise equity
22 May 2020 – Reuters – FOS & BBRS
25 May 2020 – Times – WORKING LIFE – The scramble to give business a champion when banks go bad
28 May 2020 – BBRS Webinar 1 transcript
04 June 2020 – BBRS Webinar 2 transcript
07 June 2020 – Sunday Times – Tick, tick – Race to defuse the £107bn coronavirus debt timebomb
07 June 2020 – Sunday Times – Bank of England alert over £36bn toxic loans
16 June 2020 – Jim Shannon – John Glen BBRS legacy cases.
16 June 2020 – BBRS Webinar 3 transcript
17 June 2020 – Times – Lenders told to brace for wave of disputes on £38bn of coronavirus debt
21 June 2020 – Sunday Times – By Friday March 13, we were hearing, You’ll be next
24 June 2020 – Times – Britain’s new player at the sharp end of poker game with Brussels