It is simply wrong that with one hand a bank is aggressively selling a highly complex financial product designed to protect someone against an interest rate rise, while the other hand is manipulating the rate for its own benefit.
The company claims it was not properly informed that the swaps could incur huge costs in the eventuality of interest rates falling.
In addition GCH, which employs more than 900 staff, claims Barclays did not inform the business that it would have to pay a £25 million break cost if it wanted to exit the swaps.
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