After 4 years, the FCA still seem to be incapable of investigating the massive fraud by HSBC which involved the bank adding illegal charges to debts of defaulting customers in order to pay their legal costs of recovery. It was an unlawful contingency fee, if the solicitors didn’t recover the illegal charge they didn’t get paid. The bank paid nothing, not even court and other fees. The charges have been ruled against by the Solicitors Regulation Authority and the Office of Fair Trading and questioned in parliament by the Treasury Select Committee on 3 occasions.
So here is a letter that the FCA needs to write to HSBC. It will take 2 minutes, the reply will take less than one day to process (because there will be no invoices)
As you know, we are investigating the allegation of the adding of illegal contingency fees by your solicitors to cover your legal costs.
To assist our enquiries we would be grateful if you would send copies of all invoices from Weightmans and Restons that were paid by the bank, in respect of debt recovery services, for the period 2003-2010.
Financial Conduct Authority.