New banking tribunal ‘must hear claims from the past’

SMALL firms with grievances against their banks should be able to bring historic claims before a new tribunal, campaigners are demanding.

Thousands of small firms went under following the banking crisis and blame turnaround units linked to banks for their demise.

Entrepreneurs on the receiving end are pressing for a tribunal to be set up which will allow others in their position to challenge bank misbehaviour.

The subject will be debated on Tuesday when MPs from the All-Party Parliamentary Group on Fair Business Banking will lead a debate in the Commons.

The APPG also plans to demand that any new tribunal should be empowered to hear claims from the past.

‘Obtaining redress for past victims must be part of any solutions moving forward,’ a spokesman said.

Campaigners are also calling for a public inquiry into the behaviour of banks.

Particular fury has focused on RBS, whose global restructuring group plundered small firms when it claimed to have been nursing them back to health. The Financial Conduct Authority has been investigating those involved.