Mike Weatherley, the Conservative Member of Parliament for Hove and Portslade, has joined the All-Party Parliamentary Group (APPG) on Interest Rate Swap Mis-selling, after the impact of the poor advice was highlighted to him by concerned constituents.
Mike has been contacted by a number of residents who have been seriously affected by Interest Rate Swap Mis-selling. While progress is being made on compensating those who were mis-sold financial products, the new Financial Conduct Authority (FCA) has recently been criticised for the slow response by banks.
Commenting, Mike said: I have been particularly concerned with the Interest Rate Swap Mis-Selling situation in general and have heard just how devastating an impact this has had on some of my constituents. I am confident that the APPG will keep pressure up on this matter in Parliament and make sure that banks respond adequately. That said, I completely understand the frustration of campaigning groups who feel that the FCA has not been robust enough in addressing this issue.