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Business Scotland
Business, finance and the economy in Scotland
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Farepak victims' fury at shamed banker after he escapes probe into failure

Farepak victims' fury at shamed banker after he escapes probe into failure | Business Scotland | Scoop.it
FORMER Farepark customers wanted Peter Cummings ­punished for the ­decision made by HBOS’s ­corporate lending division, which he ran, to allow savers to keep ­paying in when it was clear it would be shut down.
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MP calls for probe into bank Farepak role | Scottish National Party

MP calls for probe into bank Farepak role | Scottish National Party | Business Scotland | Scoop.it

SNP Business and Enterprise spokesperson Mike Weir MP has called for an investigation into the role of HBOS in the collapse of the Christmas saving club Farepak following a ruling by the Mr Justice Smith this week - who cleared the company directors and criticised the bank for taking in over £10m in depositors' money in the knowledge that the company was heading for insolvency. The money later went towards paying down debt held by HBOS.

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