‘ForEx fines show why trust in banks is so low’ – Our response to big bank FX fines
November 12, 2014
Responding to the news that HSBC and RBS were among five banks fined £2 billion for rigging foreign exchange rates, Charlotte Webster, Campaign Director of Move Your Money, said:
“These latest fines show just how far there is to go to clean out the British banking system.
Sadly, it’s not the first time we’ve seen these banks rig exchange rates to make a quick buck. As if that wasn’t bad enough, it’s these very same banks that are investing our money in socially and environmentally destructive industries, like fossil fuel extraction – against the wishes of over a third of the British public. With banks so keen to profit regardless of the consequences, is it any wonder that trust in British banks is so low?
It is up to each and every one of us to force these banks to change. If you bank with HSBC, RBS or Natwest, put them on notice now through the Move Your Money website, and tell them to clean up their act or you’ll walk”