Banks are back in the news

[Robert Clark]

Banks under fire for coronavirus loan tactics

Banks under fire for coronavirus loan tactics

MPs have criticised banks for asking business owners to put their own property up to secure loans.

www.bbc.co.uk

 

[DiggerJon]

Well, there's a surprise!

 

[cornish boy]

In the next few months, when the Banks come knocking for help to shore up their business, I hope the Government remember this behaviour by some banks and ask the relevant Bankers to put their assets on the line as collateral.

I get the feeling that a number of business are going to feel a whiplash from their decisions in the months and years to come.

 

[Snowbird]

Vick must be having a lie in, he will be along shortly.

 

[Barclaybasher]

Vick must be having a lie in, he will be along shortly.

No but I'm waiting for Shiffty to come to their defence

My son has applied for a loan under the CV scheme - and yes the banks aren't playing ball - there's a surprise

Haven't tried Barclays though....

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[63720]

Banks make loans,
Loans make beggars
Beggars make rags
Rags make paper
Paper makes money
Money makes banks....

I saw this on a wall in a paper mill somewhere in Lancashire but can't remember where, does anyone recognise it?

 

[34127]

This was totally denied by government spokesman on Radio 4 this morning. He said that any loan that is within the government coronavirus scheme would not require any security he did however go on to say that companies wanting additional loans out of the government scheme may be asked for security but that has always been the case.

 

[Chris]

I have to say my firms bank - Nat West - have been bending over backwards to be helpful.

 

[SpeedyDux]

'Twas ever thus. Banks will be banksters.

Remember the days of the government £250k Loan Guarantee Scheme for expanding SMEs? The Directors of the company I worked for part-time applied for this Scheme, then had no choice but to give personal guarantees and put their houses up as security despite the government guarantee. A few years later NatWest pulled the loans suddenly and called in the Receivers. The Directors were bankrupted and lost their houses. The Production Director, lovely bloke, died of cancer.

The NatWest even grabbed the staff Christmas Club savings and 120 employees lost that money as well as their jobs, just before Christmas. Utterly heartless scumbags run these Banks.

PS I have just discovered online that my local Halifax branch is now closed "temporarily" so if I need to go into a branch that means an otherwise avoidable longer journey to another town instead of walking (exercise!). I wonder if it will ever reopen.