Banking Expert Witness

Banking Expert Witness

Litigation in banking has grown in recent years.

Banks have come under increased scrutiny from the general public since the economic crisis starting in 2007. The collapse of interest rates and changes in the economic environment more generally have exposed underlying problems in the way banks have treated their customers. The government and the FSA have attempted to address some of the issues, but this has not prevented a large number of high value actions being brought against the banks such as for the mis-selling of products.   Conversely, the recent adverse trading conditions for businesses, amongst other factors, have resulted in increased litigation on the part of the banks who seek to get what is due to them from their customers.

Interest Rate Swaps

Interest rate swap agreements had become a common way that borrowers could fix or limit the interest rate paid on loans that they obtained between 2001-2008.  In some cases the lending institutions would insist they some interest rate protection was taken out through including it as a conditions precedent to the loan.  These derivative contracts were in some cases highly complex and many Small and Medium sized Enterprises (‘SMEs’) did not appreciate the risks that they contained.  The FSA has now conducted a pilot study and all the major banks have undertaken to review their sales procedures.  We have advised on many situations in this area and have specialists who are familiar with many of the problems that have arisen. For more see FSA results of pilot study into IRHPs or IRSAs.

At Expert Evidence we have substantial expertise in the banking sector. Our experts have worked for a number of different banks and have had roles in various bank departments. They have acted in managerial roles, as compliance officers, as relationship managers, and have been responsible for resolving customer complaints. They are able to give evidence on banking best practice and on the regulations under which banks must operate in the United Kingdom and in other jurisdictions.

Our experts have provided expert evidence in a wide variety of banking disputes. We have helped parties pre-action by reporting in support of their claim, and given evidence at trial. We have previously provided evidence in cases involving the mis-selling of interest rate swaps to small businesses as well as cases concerning the use of bank accounts for fraud and/or money laundering.

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