PPI Claim News - 26/11/2009

PPI Charges: Chancellor approved of secret loans to banks

Chancellor Alistair Darling has revealed that he agreed to huge Bank of England loans to two major banks being kept secret from the public.

It only emerged this week that a year ago the Royal Bank of Scotland and Halifax Bank of Scotland were lent £61.6 billion to stay afloat.

Mr Darling said that the Bank of England's view was that "any disclosure or leak of the operations would seriously jeopardise the financial stability of the system as a whole" and that he "shared this assessment".

Some MPs on the Treasury select committee have questioned the secret loans and have highlighted the alternative ways the money could have been used to help the public.

This week, the Supreme Court rejected millions of bank claims against overdraft charges, but there is still a chance that some other disputed bank charges will be investigated.

For free advice on how to make a PPI Claim – Payment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.

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