Going back to August 2009 when the Treasury Select Committee issued their fifteenth report on the banking crisis, and savaged the FSA for doing er…nothing very much whilst 40,000 + homes were repossessed you might have been forgiven for thinking that the regulator charged with ensuring that all the consumer protections in place should be observed might have awoken from their self induced slumber and DONE SOMETHING?
Not a bit of it which is why the likes of Capstone can say business as usual, keep on ramping up the charges and keep on repossessing. Here’s what the TSC thought of the FSA at the time and (GMAC-RFC apart) diddly squat has been done about this.
Feel free to contact the author and say “hey, guess what? They STILL haven’t stopped ANY of this consumer abuse.” It must be quite clear by now that the FSA is sanctioning a breach of its own statutory duties. No-one, not even the FSA, can be THIS incompetent.
The less than diplomatic language of the press release is about as robust as you can get, and still the FSA sits on their hands. Here it is in full…