Tuesday, August 1, 2006
HSBC calls for regulation of companies offering advice to those in debt
As bad debts soar at HSBC the bank calls for companies that offer advice to those in debt be more heavily regulated. The chief executive of HSBC's Dyfrig John said, "We believe that IVAs and bankruptcies . . . are sold inappropriately in some circumstances.”. Of course financial institutions would never offer financial services "inappropriately in some circumstances” would they.