Agencies get behind small business campaign in latest case of bank mis-selling

29 Mar 2012
CLIENT PRESS RELEASE: A consortium of PR and digital marketing agencies are teaming up to support the small business community affected by the latest case of bank mis-selling - IRSA's Interest Rate Swap Arrangements.

An estimated 300,000 small business are calculated to have been encouraged by their banks to enter into an ‘IRSA’ resulting in deals with crippling monthly penalty charges or excessive break charges which businesses cannot afford to buy out.

 

PR and digital marketing agencies Brand Conversions, Ellmore Consultancy and GREEN communications are providing pro bono support for independent campaign group Bully-Banks.

 

They will be adopting a two pronged strategy of highlighting the injustice suffered by small businesses as well as the wider impact and brake on economic recovery.

 

The banks are accused of failing to warn their clients of potential risks and exit costs for what are termed ‘non-vanilla’ complex financial products, mostly sold at the bank’s instigation - often as a condition of continued borrowing.

 

Commenting on the campaign Andy Green of GREEN Communications said: "There is a need to secure justice for the small businesses mis-sold these ‘Frankenstein financial products’. This is also creating a hidden brake on the economy with a significant proportion of small businesses - who are supposed to be the engine of recovery - being held back from investing in their staff by these odious penalty costs."

 

Further details about the campaign at www.bully-banks.co.uk

get in touch
Green Communications

Wakefield Media & Creativity Centre

19 King Street

Wakefield, WF1 2SQ

 

t: 44 (0)845 450 3210

f: 44 (0)845 450 3211

e: info@greencomms.com

 

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