Resident banks on political support
12:36pm Wednesday 19th March 2014 in News
A BARRY resident has rustled up support for a campaign following on from the interest rate swap scandal that has hurt a number of businesses across the UK.
PR man Andy Green, of Barry Island, has called on Vale MP Alun Cairns MP to support the Bully Banks campaign.
Mr Green, who is also behind the Barry Ideas Bank initiative, met Alun Cairns in parliament to highlight the scandal.
Mr Cairns is a member of the All Party Group aimed at combating such practices and he is calling on any other local business person affected by the interest rate swap products to get in touch.
He intervened in one such situation just before Christmas which resulted in compensation being paid.
Alun said: “This is yet another bank scandal that needs resolving. Although the interest rate swap impacts businesses the fall out is far wider and the sums of money involved can be enormous. This type of scandal naturally affects the business investing and recruiting more people. I am aware a handful of such situations in the Vale and am seeking to co-ordinate activity and calling on people to get in touch.”