Small Biz Banking Disputes Plan Gets Conditional Backing

Law360, London (February 15, 2021, 4:15 PM GMT) -- A cross-party group of MPs gave conditional backing on Monday to a new banking resolution entity launched to resolve differences between lenders and small and midsized businesses.

The All-Party Parliamentary Group on Fair Business Banking gave conditional support to the Business Banking Resolution Service, known as BBRS, an independent body that will resolve complaints from small and midsized businesses against lenders taking part in the scheme.

"The APPG has signed off on the legal architecture for the BBRS and is content that the service we have helped build has the ability to determine fair and reasonable outcomes for small businesses," the...

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