Putting Consumers First

Delivering Access to Justice through

Ethical and Professional Standards

Mis-sold Fixed Rate Business Loans

With an estimated 60,000 Fixed Rate business Loans (FRBLs) sold, this is potentially a bigger problem for the banking industry than the widespread mis-selling of standalone interest rate hedging products where there are an estimated 40,000 products sold. FRBLs have also not been included in the FCA IRHP Review Scheme and banks that sold these products are assessing mis-selling complaints separately to those interest rate hedging products in the Review Scheme.

What is a Fixed Rate Business Loan?

Obligations of the Adviser or Sales Person for Fixed Rate Business Loans

How was this service mis-sold?

Compensation

Membership Benefits & Services

The Benefits and Services of the Professional Financial Claims Association are intended to extend beyond its own membership. The Financial Claims Management sector needs a credible ‘voice’ at a time of change and increased scrutiny within the sector.

PFCA Code of Practice

The members of the Professional Financial Claims Association wish to set professional standards for member firms...

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Visit the Code of Practice page