Banks to compensate businesses who have not received BBLS in a prompt manner

Rejected 21 signatures

What the petition asks

The BBLS has turned into a shambles after the chancellor got the banks involved trying to prop businesses up. Many small businesses have gone bust and many are hanging on by a thread as a result of the banks dragging out the payment process for weeks. Rishi sunak stated that this was fast cash.

Businesses in the UK are struggling to cope with the period of time they have been forced to close, now they have the opportunity to try and pick themselves back up they are being deprived of the financial aid the chancellor promised because the banks are not paying out in a respectable time frame. Banks are not communicating, messing up applications, running credit checks asking for more info that what was required by government. Why are they dictating terms to a scheme that isn't theirs?

Why it was rejected

It was not clear what the petition asked the UK Government or Parliament to do.

Customers who feel they have been poorly or unfairly treated by their bank can already raise a grievance with the Financial Ombudsman: https://www.financial-ombudsman.org.uk/.

Complaints can also be lodged with the relevant regulatory bodies the Financial Conduct Authority (FCA) and the British Business Bank (BBB), which regulates the BBLS. The FCA has the power to start disciplinary action, impose fines, or start criminal proceedings if they feel this would be justified.

You can find out more about how to complain to the FCA here: https://www.fca.org.uk/consumers/how-complain

Timeline

17 May 2020	Petition opened for signatures
28 Jul 2020	Rejected by the Petitions Committee

Key facts

Signatures 21

Status Rejected

Rejected 28 Jul 2020

Follow this petition