Todays News
The British Business Bank Yanks All CLBILS Guarantees from Greensill
They have taken their time getting around to yanking the […]
Year: 2022
BBL Complaints and Outcomes
Ombudsman Decrees That HSBC Did Take Reasonable Steps to Make a Customer Aware a Bounce Back Loan Wasn’t Subject to the Usual Protections of the Consumer Credit Act Despite The FCA Saying Banks are Not Following the Rules on Protections That Are in Place Anyway
Here is a prime example of why the Bounce Back Loan Scheme is imploding, well it already has. This case is one in which the Financial Ombudsman Service says one thing, whilst the Financial Conduct Authority supplies proof of the opposite. […]
The Disqualification Files
Despite Being Able to Estimate His Business Turnover a Company Director Has Been Hit with an 8 Year Disqualification for Over-Estimating It When Applying for a Barclays Bounce Back Loan But He Did Use it for Personal Benefit
You are in for a slap if you overestimated your business turnover to get a Bounce Back Loan and used that BBL for personal benefit, then took the insolvency route with that loan still owing, and today’s case did see a Company Director get an 8-year ban for the reasons outlined. […]
BBL Complaints and Outcomes
Starling Bank Told to Pay Compensation After Incorrectly Closing a Customers Business Account But the Ombudsman Says They Were Allowed to Demand Back a BBL the Customer Got
You can see why Lord Agnew, the one-time Minister of State at the Cabinet Office and Her Majesty’s Treasury and many others associated with the Bounce Back Loan Scheme have resigned, when you read cases like this one. […]
The Disqualification Files
HSBC and Starling Bank Approve and Pay Out a Bounce Back Loan Each to the Same Company Its Director Who Had Also Over-Egged the Turnover to Get Those BBL’s Gets a 10 Year Disqualification
Word has it, that Starling Bank and HSBC appear to be the two banks that have paid out the most duplicate Bounce Back Loans, of the 22,000 suspected duplicates, and today’s case, which is a common one, does seem to back that rumour up. […]