Westminster Hall Debate on the Griggs Review

On Tuesday 18th December 2018, the Co-Chairman of the All-Party Parliamentary Group (APPG) on Fair Business Banking, Kevin Hollinrake MP, will lead a Westminster Hall debate on the HBOS Reading customer case review, established by Lloyds Banking Group (LBG) and reviewed by Professor Russel Griggs. Commenting on the Review, Kevin Hollinrake MP said: “The design, methodology and process of the Review is an affront to any notion of natural justice as it denies the victims of the fraud a fair hearing and appropriate compensation for their loss.” LBG has taken the illogical position that every business involved in the fraud
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Lloyds Banking Group settle with HBOS whistleblower

Kevin Hollinrake MP, Co-Chair of the All-Party Parliamentary Group on Fair Business Banking, said: “We are, of course, pleased that an agreement has been reached and that Lloyds have apologised for their treatment of Sally Masterton, who has been treated disgracefully by the bank. But this does now raise important questions that must be answered: Why did Lloyds deny that they had commissioned the report? Why did they set out to destroy Sally’s reputation and credibility? Why did they ignore the requests of Thames Valley Police officers who were investigating the HBOS fraud to have continued access to Ms Masterton
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Statement on the APPG's AGM - 02 November 2018

We are pleased to announce that following the APPG’s AGM on Wednesday 31 October 2018 the Group has re-elected all officers and now has two new Vice-Chairs, Stephen Kerr MP (Conservative) and Luke Graham MP (Conservative). The APPG’s Co-Chairs are Kevin Hollinrake MP (Conservative) and Norman Lamb MP (Liberal Democrats). Martin Whitfield MP (Labour), Dr Lisa Cameron MP (SNP), Sammy Wilson MP (DUP), the Ear of Lindsay (Conservative) and Lord Cromwell (Crossbench) remain as Vice-Chairs.   The minutes of the meeting can be read here. The APPG’s income/expenditure statement can be read here. The  APPG’s financial statement can be read
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The Release of Simon Walker’s Report

The APPG is pleased that Simon Walker recognises the “massive power imbalance” between businesses and banks. His report clearly identifies that there is a limit to his proposals; which do not extend beyond a compensation limit of £600k, cannot compel witnesses, cannot force disclosure of information nor deal with insolvency issues.  As such, it is clear that his proposals will provide a piece of the jigsaw, but taken alone, are not enough. As previously stated in the past, the APPG welcomes the creation of a separate division of the Financial Ombudsman Service (FOS), which will have a clear business identity
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An expanded FOS: a good start, but it is now up to the Government to take the initiative

The All-Party Parliamentary Group (APPG) on Fair Business Banking welcomes the news that the FCA has confirmed that SMEs will be given greater access to the Financial Ombudsman Service (FOS). The new remit will cover businesses with an annual turnover below £6.5m with fewer than 50 employees, or an annual balance sheet below £5m. The FOS will now be able to award a maximum compensation of £350,000. According to the FCA, an additional 210,000 SMEs will be eligible to take their complaints to the Ombudsman Service. The APPG is clear that an extension to the remit of the FOS is
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Support our work

As the APPG gains yet more traction, it is imperative that we are able to raise sponsorship to build on our already substantial progress. To that end, we are inviting donations to support our work. Please find below a link for donations, which can be ‘one off’ or on a monthly basis. We recommend a minimum donation of £250 per annum.

Any donations will be recorded publicly in our register of interests.