The Treasury Select Committee has written to the four main banks asking for information on the numbers of letters sent out and explanations as to why the banks wrote under the guise of non-existent law firms. The letters were often used to chase up unpaid debt.
Consumer detriment
Andrew Tyrie, chair of the committee, said: ‘We need to know the extent of this practice. Banks have repeatedly assured Parliament that they are raising standards and now have robust procedures in place to bring consumer detriment to an end. It would be extremely concerning if consumers had been routinely misled.’ Source: Legal Futures
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