Bully Banks | Supporting Small Businesses Against the Banks
Bully-Banks was created in December 2011 by a small group of business owners in the UK each of whom had been mis-sold an IRSA, to co-ordinate complaints by the owners of small and medium sized business against the conduct of Banks when mis-selling Interest Rate Swap Agreements (“IRSAs”).
As of the end of January 2013 Bully-Banks is a campaign group of over two thousand members. The members are the owners of over one thousand small and medium sized businesses in the UK each of which has been mis-sold an IRSA by their bank.
Every member of Bully-Banks has been mis-sold an IRSA by their bank.
The founding principles of Bully-Banks are as follows:
- To represent the interests of those owners of small and medium sized businesses that have been directly affected by the mis-selling of IRSAs.
- To be commercially independent.
- To be politically independent.
- To act as a means of communication between members.
- To provide a forum for the views of our members.
- To advise, support and act as an advocate for our members.
- Bully-Banks will not seek to sell any service or product to any person.
We are asking every owner of a small or medium sized business who believes they have been mis-sold an IRSA to register with Bully-Banks. Together we can ensure that this issue is debated in the media and can optimise our actions as we go forward to force the Banks to remedy the problems which they have created.
To register as a member of Bully-Banks please click on the 'Buy A Membership' button at the top of the page and then complete the registration form. Once you have paid your membership you will become a member of Bully-Banks and will be entitled to the following benefits:
1 - Access to our online Members Forum
2 - Access to our subtantial news archive and standard letter
templates for your bank & MP
3 - Regular enews updates with IRSA campaing news and tips for your case.
We have already generated a great deal of media coverage. The mis-selling of IRSAs has been investigated by the Financial Services Authority (“the FSA”) in the UK and is the subject of a campaign in Parliament.
On Thursday 22nd June 2012 the mis-selling of IRSAs was debated in in the Houses of Parliament in London (if you go to the News section of this website you can access the Hansard record of the debate). What is most impressive is the fact that every speaker in the debate whole heartedly supported the owners of the small and medium sized businesses which make up our membership.
The Minister’s response on behalf of the Government also acknowledge the reasonableness of our complaint.