Banks resist legislation forcing them to introduce alternative funders.

Are they wrong or right?

This article in The Telegraph seems to take the line that the banks are being unreasonable and that the legislation is a good thing.

Personally, I beg to differ - and here are the reasons why..

The great free banking myth

Perhaps more appropriate title would be 'when loss-leading goes wrong' or 'the true cost of free'.

A little journey through history:

Back in the 20th Century (feeling old now?) there was a major bank called the Midland Bank - so major that it constituted one of the 'Big 4' UK banks.

Bring back the old fashioned bank manager!

Ah, nostalgia - it isn't what it used to be!

Perhaps one of our best pieces of business nostalgia is the old-fashioned manager'.

Presumably the mental image of a sort of benign version of Captain Mainwaring visiting or premises or perhaps playing a round of golf with a briefcase full of cash ready to hand over if he likes the cut of your jib.

I wasn't alive during WW2, so can't be sure whether Captain Mainwaring cut a realistic bank manager or not - he looks right though.

Business funding review

Are you in?

On 28th of March the Chancellor announced to the Federation of Small Business potential plans to force banks to release details of declined proposals to a platform of alternative lenders featured in this article.