Closed petition LIBOR Compensation for Consumers

Closed on 3 January 2013

Bank's have made billions rigging LIBOR. It is not good enough for regulators to fine tor criminally punish them. The Banks must compensate the consumers who have been affected by their rate rigging.

That is for each consumer in the UK who has had a mortgage, loan or overdraft should be paid a nominal fee of £10,000.

This money is on top of any regulatory fine and must reflect the billions in profit and bonuses that have been declared and paid out in the finance industry.

Therefore, the Government must create a forum for each consumer affected, to log their mortgage, loan or overdraft account reference number, the bank involved and then issue a compensatory fine to the banking industry, based on their market share and involvement of the LIBOR scam, to meet the claims.

This is a formula that justifies the compensation, rather than the guess the regulatory bodies use and which do not benefit the people who have paid inflated interest.

Limit to one claim per person.