Blow For Small Firms Demanding Bank Redress

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Blow for small firms demanding bank redress

Banks look to have dodged yet another multi-billion pound compensation bullet after a QC ruled that the Financial Conduct Authority (FCA) has no powers to act on thousands of small business loans containing interest-rate swaps. Some £1.8bn in compensation has been paid out after the financial watchdog launched a review of interest-rate swaps that were sold…

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