News
MP wants to hear banking issues
09/03/2010 14:53:00
ORKNEY and Shetland MP Alistair Carmichael is asking people in the Northern Isles to tell him their recent experiences with the banking sector after the publication of a report critical of the failure of the banks to reach binding lending targets.
Mr Carmichael is a member of the Scottish Affairs Select Committee, which yesterday published a report into the experience of small and medium businesses with the banking sector since the onset of the financial crisis.
The report from the crossbench group of MPs found that banks were
failing to meet their lending obligations to small and medium sized
business. The Committee also criticised the banks for placing pressure
on staff to sell unsuitable financial products to personal banking
customers.
Mr Carmichael is calling for individuals and businesses that have had
difficulties with their banks to consider sharing their experiences
with him, in confidence.
Commenting, Mr Carmichael said:
'The evidence that the Committee heard in Westminster while we
conducted our investigation into the banks was disturbing, if not
wholly surprising.
'It is clear that businesses and families all over Scotland have been
let down by the banks. Already I have heard from several companies in
the Northern Isles who have had lending facilities withdrawn or revised
unfavourably without negotiation.
'This is an issue which needs to be addressed by the Government
nationally, but it would be helpful to know just how many people have
been affected locally by the withdrawal or amendment of essential lines
of credit.
'I would encourage anyone who feels they have been treated badly by
their banks to consider getting in touch. All personal details will of
course be treated in the strictest confidence.'