HSBC Directors Quit
If ever there was a prime example of the attitudes of people at the top level in major banks, this is it!
With the long overdue, and I mean LONG overdue, rules being introduced by regulators which could see criminal prosecutions being brought against banking executives for failings, it appears the water has become too hot for some.
Alan Thomson and John Trueman, HSBC Directors, have decided enough is enough, and are quitting in protest of the new rules.
HSBC, amongst most other UK lenders, have systematically mis-sold products such as PPI and Packaged Bank Accounts, and offered terrible advice on mortgages and investments, purely to line their own pockets and that of it’s shareholders.
As if bringing the country, and the rest of the world, to it’s knees wasn’t bad enough, these people would rather run than put right their clear failings.
No doubt Mr Thomson and Mr Trueman’s will be able to enjoy a long and luxurious retirement whilst the rest of us have to pick up the pieces.
Reckless behaviour by senior bank staff will soon become a criminal offence, if regulators get their way.
However the banking industry have claimed that such rules would struggle to attract high quality directors!!!!
If we weren’t still feeling the affects of the huge recession brought about by bankers greed, that would almost be laughable. It’s abundantly clear that the banking industry must start to attract a completely new type of director, people who put customers first instead of their own filthy pockets.
In addition to criminal charges for reckless behaviour, the regulator also has the power to claw back bankers bonuses up to seven years after they have received them.
Unfortunately the new rules mean that bonuses cannot be clawed back for past misdemeanours as this would start with a line in the sand, so to speak.
We have reservations regarding how exactly this will be done, given the history of broken promises by the regulator, but we must remain hopeful they will stand by their new claims of stronger action.
How you can claw money back
With an estimated 7 million people yet to stake their claim for compensation for mis-sold PPI, and millions more who are entitled to compensation for the new Packaged Bank Account scandal, there are BILLIONS in compensation waiting to be claimed.
Account numbers are not needed, as fast-track systems have been set up between Your Money Claim and most banks which sees lenders provide account details and whether any insurances were added to the account, whether it be a current account, mortgage, loan, credit card or even a store card.
Your Money Claim deals with, and beats, the banks on a daily basis, recovering MILLIONS in compensation for thousands of customers.
So why not start your claim today, it’s your chance to make the banks pay for their past greed.