Require banks to do more during the COVID-19 crisis

Require banks to do more during the COVID-19 crisis

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John Adam Lavery started this petition to UK Parliament

In 2008, we the taxpayers of the UK, were forced to bail out the banking system that was on the verge of collapse due to the greed and incompetence of bankers. Countless billions of pounds of taxpayers' money was used to prop up the banking system. This resulted in austerity and 10 years of stagnant wages and living standards, although not for most bankers.

Roll forward to 2020 and the Coronavirus crisis. What support are banks offering?

- Loans with sky-high interest rates, if they're prepared to lend at all.
- A "mortgage holiday" that accrues interest and results in increased costs.
- Credit card and loan "holidays" that accrue interest and result in increased costs.

It's time for banks to pay back the support they were given to survive in 2008. That means zero-interest loans (they're backed by government, meaning us) and proper payment holidays that add nothing but time.

We call on the UK Government to call in the chips they gave banks in 2008 and require them to do more to help the UK population in this crisis.

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