17th Aug 2015 06:17
LONDON (Alliance News) - Barclays PLC has handed hundreds of customers a take-it-or-leave-it offer that may result in some small businesses being "forced to pay the bank hundreds of thousands of pounds despite having been mis-sold its complex hedging products", the Times reported on Monday.
According to the report, Barclays has said that if the customers don't accept its compensation offer, they will have to pay the cost of terminating the products and for missed premium payments.
Citing a letter from Barclays that the newspaper has seen, the Times said the bank has given businesses until October 15 to accept the offer.
http://www.thetimes.co.uk/tto/business/industries/banking/article4529294.ece
By Samuel Agini; [email protected]; @samuelagini
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