Dumfries and Galloway MP Alister Jack has used a debate in the House of Commons to call for proper redress for victims of banking misconduct.
In his speech Mr Jack said, “There are literally thousands of victims of this banking scandal. They are victims not of banks, but of bankers and their advisers who colluded with them.”
He went onto say, “Victims have been fighting this situation for years. Their lives have been destroyed; it is not just livelihoods, some have lost or taken their lives. Families have been torn apart and businesses have been lost”.
Notwithstanding the various reports that have been published on the subject the MP argued that more prosecutions would incentivise bankers to address their unscrupulous behaviour.
This, he told MPs, would also give justice to those affected by this scandal.
Commenting on the debate Mr Jack said,
“This is the second debate in the House of Commons on this subject, and on both occasions I have made it clear that RBS GRG are the worst offenders when it comes to banking misconduct.
“Since the Treasury Select Committee, of which I am a member, launched an inquiry into this I have been inundated with letters, phone calls and emails from people right across the UK, including in my own constituency of Dumfries and Galloway, wanting to share their own experiences.
“Hard working people were deceived and put under extreme pressure by bankers acting in a disgusting way, and it is right that they are now looking for proper redress, which so far has been lacking.
“As I said in my speech, this has not been a golden era for British banking and it is high time they paid the price for the havoc they have wreaked on people’s lives.
“The Committee hearings and Parliamentary debates have brought this issue to the fore, and unless serious action is taken to prevent such a scandal from happening again it won’t be going away anytime soon”.