Apr 29, 2013

Barclays PPI scandal/Future potential Barclays Business Managers' software scandal

Prior to the investigation into the bank practices, Barclays Business Managers were told they had to sell 1 PPI for every 3 business applications, even though the internal criteria meant PPI policies should not have been sold. 

To enable the excessive sale of the policies, false information had to be fed into the Barclay’s “system.”  Seemingly, each and every business manager complained, sometimes to the highest level – allegedly, all were in fear of losing their jobs and in effect, were told, “Get on with it.”!
For the last two years we have had a number of Barclay’s Business Manangers contacting us by our FreePost mailing.  Unfortunately, we have yet to identify the authors of the letters.

Today, we have received the latest “update.”  It seems the righteous senior management at Barclays have introduces a new scheme to generate money.  The alleged “fiddle” operates through the newly introduced, “Barclay’s Business Manager Software”  a “must have” for many businesses, who borrow from Barclays.

It appears the software is rented to customers for up to £40 per month and in many cases the software is inappropriate or never used.  Business manangers are mandated to sell, at all costs, six systems for every ten business customers, who approach them for a loan, even though it is clear the software will never be used or its use is inappropriate.

We are told the scheme is another PPI catastrophe waiting to happen.  Furthermore, we are told the MD at Barclays, Steve Cooper, is aware of the situation.

If you are a customer of Barclays, who has been sold the software, we would like to hear from you.  If you are a business manager and can throw some light on the subject, please contact us.  If you are one of the authors of our regular, “news letter” we would urge you to telephone us – we need to speak with you as a matter or urgency and finally, if you are Steve Cooper, the Managing Director, who allegedly knows about this we would like to hear from you in person.

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