Treasury pushes FSA to act on interest rate swap mis-selling

The move follows pressure from the financial secretary to the Treasury Greg Clark, who spoke to the FSA about the matter and pushed for the time limit, and questions about interest rate mis-selling from other MPs. Labour MP for Dundee West Jim McGovern said he has had constituents contact him who have been waiting for more than a year for the FSA review of the practice, and that the banks have taken "no remedial action whatsoever". Clark has also asked banks to stop payments on these products for businesses facing financial difficulty. Politicians from all major parties have named ...