Statements

Statement on Back Bench Business Debate Application - 5 March 2018

The APPG on Fair Business Banking and Finance have applied for a back bench business debate. The disclosure of the Section 166 report into RBS GRG has brought to a head many of the issues the APPG has been tackling for years. Since the financial crash MPs have heard reports from their constituents that the mistreatment highlighted in the s166 report was repeated across many banks and building societies. In the face of banks’ liquidity requirements at the time, the apparent strategy of distressing businesses, property down-valuations, forced administrations and selling assets was not isolated to RBS. The potential conflicts
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Position Statement on RBS s166 Report and Call for Public Inquiry into Business Banking - 27 February 2018

With the release of the RBS GRG Section 166 report into the public domain, we must once again ask ourselves, when do we say enough is enough? Following on from our debate on 18 January 2018, which set in motion the chain of events that led to the publication of the report, the APPG on Fair Business Banking is once again calling for an industry-wide inquiry that covers the full matrix of financial institutions and their professional advisors. We also reiterate the need for an appropriate, independent system for dispute resolution and redress. In the meantime, we call for all
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Statement on the election of new APPG officers - 9 February 2018

We are pleased to announce that following an APPG EGM conducted on Monday 5 February 2018 we have two new co-chairs, and two new MPs representing the APPG on Fair Business Banking and Finance. This EGM was called following Clive Lewis MP’s promotion to the Shadow Front Bench, which meant that he was no longer permitted to stand as co-chair for the APPG. Lord Cromwell (Crossbench) has also stepped down from his position as co-chair due to other commitments, but will continue as vice-chair. As a result, we have two new co-chairs on the APPG. Kevin Hollinrake MP (Conservative) and
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Statement following release of RBS GRG section 166 report - 6 February 2018

The APPG on Fair Business Banking is delighted that the Treasury Select Committee has been given an opportunity to inspect a full copy of the Promontory Section 166 report into RBS Group’s mistreatment of SME customers. Clearly the right course of action remains to publish the report in full as soon as possible. All of those SMEs and entrepreneurs affected by this issue deserve nothing less. In the meantime, following the statement in the House today by Clive Lewis, Shadow Treasury Minister, that there has been an attempt to “sanitise” Promontory’s findings in the summaries released so far, it is
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Statement on FCA consultation on extending the FOS' remit - 22 January 2018

PROPOSED MEASURES WILL NOT SOLVE THE CRISIS IN DISPUTE RESOLUTION All options must remain on the table, including legislation The APPG on Fair Business Banking has for years been leading the call for an independent, quasi-judicial dispute resolution system between businesses and banks. The current proposals by the FCA will not solve the current crisis, nor will its sole implementation provide adequate solutions for the resolution and restitution required to move on from the current crisis. Andrew Bailey has already stated, and this consultation makes clear, these are a series of measures that the FCA has identified based on what
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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.