Tyrie to write to banks to investigate misleading 'solicitor' letters

It was recently revealed that RBS and its NatWest arm have been using Green & Co Solicitors in Telford; Lloyds Bank uses SCM Solicitors in Hove, East Sussex, and, until January this year, HSBC used DG Solicitors in Edgbaston, Birmingham.

But a search of the Solicitors Regulation Authority register reveals that none of these firms exist as an entity supervised by the regulator.

Commenting on the allegations, Andrew Tyrie MP, Chairman of the Treasury Committee, said:

“We need to know the extent of this practice. Banks have repeatedly assured Parliament that they are raising standards and now have robust procedures in place to bring consumer detriment to an end. It would be extremely concerning if consumers had been routinely misled.”