At the SME Alliance Meeting in the House of Commons following the debate on RBS
treatment of SMEs on Thursday, 18 January
Jeff Lampert, the founder of diyLAW, declared "deja vu".
The similarities between two debates on the same subject, nineteen years apart, demonstrate that regulation of banks has gone backwards. Lloyds Bank and RBS were mentioned in both debates, but in the one in May 1999 RBS was praised, not criticised.
The FSA was not mentioned in May 1999, the FCA was rightly heavily criticised yesterday.
Jeff Lampert currently has ground-breaking "once removed" litigation against the FCA.
Asked to comment Jeff said " if the Government had acted properly after the first debate, the content of the debate yesterday would not have been so heart-breaking"...
This blogpost is for information purposes and should not be relied upon as legal advice because it does not consider or take into account your own personal circumstances. If in doubt, seek legal advice.