Up to 100,000 firms could have been mis-sold interest rate swaps, Business Secretary Vince Cable has said.
UK lenders are expected to face a compensation bill of at least £1 billion as a result of the "terrible scandal".
A review by the Financial Services Authority (FSA) published last month found more than 90% of small firms had been mis-sold the complex financial products.
Buy a book to learn more about Interest Rate Swaps!
Source: http://www.itv.com/news/update/2013-02-07/cable-interest-rate-swaps-mis-sold-to-up-to-100-000-firms/
UK lenders are expected to face a compensation bill of at least £1 billion as a result of the "terrible scandal".
A review by the Financial Services Authority (FSA) published last month found more than 90% of small firms had been mis-sold the complex financial products.
Buy a book to learn more about Interest Rate Swaps!
Source: http://www.itv.com/news/update/2013-02-07/cable-interest-rate-swaps-mis-sold-to-up-to-100-000-firms/
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