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Clydesdale Bank Refinancing Practices

EDM number 598 in 2016-17, proposed by Stephen Gethins on 26/10/2016.
Categorised under the topics of Financial services and Small businesses.

That this House notes the June 2012 findings of the Financial Services Authority (FSA) that there were serious failings in the sale of interest rate hedging products to some small and medium-sized businesses by Clydesdale Bank; further notes the earlier critical findings of the Treasury Select Committee that the voluntary redress procedures implemented by Clydesdale Bank were inadequate; regrets that the subsequent behaviour of the bank has done nothing to date to improve customer confidence in this system of redress; criticises the bank for being less than fully transparent about the costs, penalties, obligations and calculations attached to its break clauses; notes that the bank has failed repeatedly in the redress process to give details of so-called third party hedges that triggered excessive financial penalties for clients; encourages the bank and its representatives to provide more accurate and consistent information, such as terms and conditions to its customers when they inquire about their personal finances; further encourages the FCA regulator to re-examine the voluntary redress scheme and ensure Clydesdale Bank's customers have been fairly treated.

This motion has been signed by a total of 81 MPs.

Stephen Gethins26/10/2016North East FifeScottish National PartyProposed
Stewart Hosie26/10/2016Dundee EastScottish National PartySeconded
Ian Blackford26/10/2016Ross, Skye and LochaberScottish National PartySeconded
George Kerevan26/10/2016East LothianScottish National PartySeconded
Martyn Day27/10/2016Linlithgow and East FalkirkScottish National PartySeconded
Chris Stephens27/10/2016Glasgow South WestScottish National PartySeconded
Alison Thewliss28/10/2016Glasgow CentralScottish National PartySigned
Michelle Thomson31/10/2016Edinburgh WestScottish National PartySigned
Michael Weir01/11/2016AngusScottish National PartySigned
Natalie McGarry01/11/2016Glasgow EastScottish National PartySigned
Peter Grant01/11/2016GlenrothesScottish National PartySigned
John McNally02/11/2016FalkirkScottish National PartySigned
Alan Brown02/11/2016Kilmarnock and LoudounScottish National PartySigned
Alex Salmond03/11/2016Signed
Chris Law03/11/2016Dundee WestScottish National PartySigned
Joanna Cherry03/11/2016Edinburgh South WestScottish National PartySigned
Mark Williams03/11/2016CeredigionLiberal DemocratSigned
Owen Thompson03/11/2016MidlothianScottish National PartySigned
Gavin Newlands03/11/2016Paisley and Renfrewshire NorthScottish National PartySigned
Stewart McDonald07/11/2016Glasgow SouthScottish National PartySigned
John Nicolson07/11/2016East DunbartonshireScottish National PartySigned
Angus MacNeil07/11/2016Na h-Eileanan an IarScottish National PartySigned
Ronnie Cowan07/11/2016InverclydeScottish National PartySigned
Patricia Gibson07/11/2016North Ayrshire and ArranScottish National PartySigned
Marion Fellows07/11/2016Motherwell and WishawScottish National PartySigned
Richard Arkless07/11/2016Dumfries and GallowayScottish National PartySigned
Hannah Bardell07/11/2016LivingstonScottish National PartySigned
Calum Kerr07/11/2016Berwickshire, Roxburgh and SelkirkScottish National PartySigned
Corri Wilson07/11/2016Ayr, Carrick and CumnockScottish National PartySigned
Margaret Ferrier07/11/2016Rutherglen and Hamilton WestScottish National PartySigned
Callum McCaig07/11/2016Aberdeen SouthScottish National PartySigned
Angela Crawley07/11/2016Lanark and Hamilton EastScottish National PartySigned
Pete Wishart07/11/2016Perth and North PerthshireScottish National PartySigned
Tasmina Sheikh08/11/2016Ochil and South PerthshireScottish National PartySigned
Brendan O'Hara14/11/2016Argyll and ButeScottish National PartySigned
Hywel Williams14/11/2016ArfonPlaid CymruSigned
Alan Meale14/11/2016MansfieldLabourSigned
Tommy Sheppard14/11/2016Edinburgh EastScottish National PartySigned
Caroline Lucas14/11/2016Brighton, PavilionGreenSigned
Paul Monaghan14/11/2016Caithness, Sutherland and Easter RossScottish National PartySigned
Douglas Chapman15/11/2016Dunfermline and West FifeScottish National PartySigned
Kirsten Oswald15/11/2016East RenfrewshireScottish National PartySigned
John Pugh16/11/2016SouthportLiberal DemocratSigned
Drew Hendry16/11/2016Inverness, Nairn, Badenoch and StrathspeyScottish National PartySigned
Eilidh Whiteford16/11/2016Banff and BuchanScottish National PartySigned
Phil Boswell17/11/2016Coatbridge, Chryston and BellshillScottish National PartySigned
Mike Gapes17/11/2016Ilford SouthLabourSigned
Ian Murray21/11/2016Edinburgh SouthLabourSigned
Chris Matheson22/11/2016City of ChesterLabourSigned
Alistair Carmichael22/11/2016Orkney and ShetlandLiberal DemocratSigned
Sammy Wilson22/11/2016East AntrimDUPSigned
Liz Saville Roberts22/11/2016Dwyfor MeirionnyddPlaid CymruSigned
Carol Monaghan23/11/2016Glasgow North WestScottish National PartySigned
Jonathan Edwards24/11/2016Carmarthen East and DinefwrPlaid CymruSigned
Kirsty Blackman25/11/2016Aberdeen NorthScottish National PartySigned
Stuart McDonald25/11/2016Cumbernauld, Kilsyth and Kirkintilloch EastScottish National PartySigned
Stuart Donaldson25/11/2016West Aberdeenshire and KincardineScottish National PartySigned
Paul Flynn28/11/2016Newport WestLabourSigned
Roger Mullin28/11/2016Kirkcaldy and CowdenbeathScottish National PartySigned
Geraint Davies28/11/2016Swansea WestLabourSigned
Angus Robertson28/11/2016MorayScottish National PartySigned
Danny Kinahan29/11/2016South AntrimUUPSigned
Tom Elliott29/11/2016Fermanagh and South TyroneUUPSigned
Anne McLaughlin30/11/2016Glasgow North EastScottish National PartySigned
Clive Betts30/11/2016Sheffield South EastLabourSigned
Steven Paterson01/12/2016StirlingScottish National PartySigned
Patrick Grady02/12/2016Glasgow NorthScottish National PartySigned
Martin Docherty06/12/2016West DunbartonshireScottish National PartySigned
Mhairi Black08/12/2016Paisley and Renfrewshire SouthScottish National PartySigned
Keith Vaz08/12/2016Leicester EastLabourSigned
Stephen Timms12/12/2016East HamLabourSigned
Neil Gray13/12/2016Airdrie and ShottsScottish National PartySigned
Antoinette Sandbach14/12/2016EddisburyConservativeSigned
Jim Cunningham15/12/2016Coventry SouthLabourSigned
Kate Green20/12/2016Stretford and UrmstonLabourSigned
Gordon Marsden09/01/2017Blackpool SouthLabourSigned
Sarah Olney09/01/2017Richmond ParkLiberal DemocratSigned
Stephen Twigg09/01/2017Liverpool, West DerbyLabourSigned
Rosie Cooper25/01/2017West LancashireLabourSigned
Henry Bellingham02/02/2017North West NorfolkConservativeSigned
Angela Smith09/02/2017Penistone and StocksbridgeLabourSigned

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