Interest rate swap mis-selling 'a big a scandal as PPI' - MP

Politicians from all major parties named Barclays, HSBC and Royal Bank of Scotland (RBS) among lenders who had forced small business to buy the products - which, the report said, had bankrupted some firms. Tory MP Mike Freer, a former senior banker at Barclays, said he was "shocked and appalled" one of his constituents had been treated. Another Conservative, Gary Streeter, said: "It is truly a scandalous story. I suspect it will become as big a scandal as the mis-selling of payment protection insurance." It said the swap products were supposed to protect against rinsing interest rates ...