By Francesca James

Commenting on the Which? research which shows that bank staff are under pressure to sell to reach targets, meaning that many are mis-selling products to customers, John Walker, National Chairman, Federation of Small Businesses, said:

“The Which? findings are disturbing.They suggest the sales culture that has eroded the trust between the banks and their customers persists. Many small firms have learned the hard way about the problems associated with being mis-sold products that are not appropriate for their business. Thousands of firms have collapsed as a result of the mis-selling of complex financial products and many more are still waiting to get redress from the banks. This needs to be tackled as a matter of urgency, and for the interests of the banks to be fully aligned with their customers.”