>>> CYBG Remediation Support Group Notice – September 2019 Meeting <<<

CYBG:NAB Remediation Support Group is set up to assist Members in obtaining recompense for damage to their businesses as a result of CYBG PLC mis-selling business loans from 2000.

CYBG PLC Virgin Money Share Price as at dates below.

Friday    10 August 2018 – 353 p per share
Monday 12 August 2019 – 146 p per share     (-60%)
Check the current share price here. (opens in a new window)

On the SAME day CYBG CEO David Duffy sold circa £272K in shares AND received circa £564K in gifted (cost to him £0) shares (this after selling c £345K in shares on 18 February 2019 and received circa £725K in gifted shares (cost to him £0).

Daid Duffy CYBG CFO colleague Ian Smith sold circa £84K in shares AND received almost circa £169K in gifted (cost to him £0) shares (this after selling circa £106K in shares on 18 February 2019 and received circa £218k in gifted shares (cost to him £0).

This is after the Melbourne AGM on 30 January 2019 had 34.2% vote against the remuneration.

CYBG director share deals here.

CYBG Virgin Money Anne Peters Hunger Striker Banner

Founding Principle

… ‘Australia needs stability in its banking sector. So does Britain. To bring it about, banks everywhere need to do far more to truly act in their customers’ interests, as opposed to being as aggressive as possible over issues such as remediation for past wrongs… Will it happen? Sadly, I doubt it.’…

Katherine Griffiths is Banking Editor of The Times UK – 23 Jan. 2019

As a strategic business opportunity, indeed necessity, we challenged the CYBG PLC Chairman, CEO and Board directly at their recent AGM to prove Katherine’s well-founded scepticism wrong and truly set CYBG out as a different UK Bank now!

CYBG Remediation Support Group presents our latest video clip which includes extracts from the Clydesdale Bank (CYBGPLC) 2019 shareholders AGM in Melbourne, Australia on 30 January 2019, including a significant and important business strategy presentation by the Chair Jim Pettigrew and CEO David Duffy.

Also included is some media coverage in the few days before and after the AGM. Mr Ian Lightbody from NABCSG makes some comments and poses three questions during Q&A as well as a number from Australian Bank Warriors.

Towards the end of the video clip (42 mins), you will hear Jim Pettigrew refer to meeting Ian Lightbody after the AGM, which took place with the Australian Bank Warriors, one of whom recorded the discussion which can be heard here and a transcript of the discussion, here.

Underpinning some of those CYBG answers at the AGM are the supplier code of conduct, published on the CYBG website on page 6, (PDF Link here).

‘We value integrity, fairness, honesty, respect, consistency and collaboration as the hallmarks of good relationships’.

The CYBG Remediation Support Group expects Members to reciprocate the conduct and behaviour they encounter at all levels of CYBG PLC.

If you are a victim of Clydesdale Bank or Yorkshire Bank (CYBG PLC) then please contact us via email to administrator@cybgremediationsupportgroup.com, scanning any of your loan facility letters to verify your identity.

A crucial letter was sent after Mr. Ian Lightbody returned home to Glasgow after the 2019 AGM.  That 4-page letter is in the Members section…..now  released HERE (CLICK ON THIS LINK) prior to the FCA Public Meeting on Wednesday 17 July 2019 at 9.30 am in London.

1)  Pettigrew Esq. Chairman.   2)  Duffy Esq. CEO.

Floor 15 The Leadenhall Building
122 Leadenhall Street

4 February 2019

Dear Jim / David,


Message from Andrew Bailey  FCA CEO for the CYBG Remediation Support Group inaugural meeting:

“The FCA is firmly in support of satisfactory resolution of past cases involving banks and small firms, including tailored business loans.  We agree that the framework proposed by the Walker Review should be developed to provide effective arbitration and resolution which is independent and fair. It is important that the design and oversight of these arrangements reflect the views of all parties.”

Message from Jim Shannon, MP for Strangford, (DUP), for the inaugural group meeting, can be found in the members’ area.


Useful Links for Bank Victims

Nab Customer Support Group – website for victims of National Australia Bank & Clydesdale Bank

SME ALLIANCE – Website for victims of Banks generally


SME ALLIANCE related documents – Press Release dated 12th March 2019 and Financial Times Jonathan Ford article re Nicky Turner; DRS and McGrory settlement with CYBG

Letter to Heather Buchanan from John Guidi to process through to Stephen Jones of UK Finance 14th March 2019

Hansard Link to Urgent Question regarding John Guidi ‘Hunger Strike’, asked by Angela Crawley MP in the Commons on 19th March 2019

Hansard Link to Urgent Question regarding John Guidi ‘Hunger Strike’ in the Lords on 19th March 2019

The APPG Accepts its Place on the Implementation Steering Group 20th March 2019

John Guidi agrees to suspend hunger strike – Scottish Daily Mail  – 21st March 2019

John Guidi agrees to suspend hunger strike – The Times – 21st March 2019

Letter to David Duffy, CEO CYBG PLC / Clydesdale Bank from Kevin Hollinrake APPG Fair Business Banking – 22nd March 2019

Transcript of the meeting with the Press Association after CYBG meeting on Friday 22nd March at 7.15pm – photo of the three of us

Photo of the Leadenhall CYBG RSG ‘cohorts’ at Leadenhall on Tuesday 26th March 2019

Reuters UK Lawmaker asks FCA ahead of historic arbitration scheme – This includes the Armstrong case, dated 28th March 2019

Letter to David Duffy from Kevin Hollinrake – 29th March 2019

APPG ISG Update in relation to the DRS Scheme 2nd April 2019

Letter to David Duffy from Kevin Hollinrake 2nd April 2019

Katherine Griffiths article – ‘Small firms can afford to be optimistic about Banks’ dispute schemes’ 3rd April 2019

James Hurley – Big Banks ready to extend Dispute Scheme – 3rd April 2019

William Turvill – Mail on Sunday – Article on Cerberus – Hounds of Hell – 4th May 2019

Adele Ferguson – NAB facing fresh UK loan refund threat – 6th May 2019

PARLIAMENT. Hansard – Banking (Consumer and Small Business Protection)  7th May 2019

Rachel Wolcott – Thomson Reuters – Senior Managers accountable for SME treatment – 9th May 2019

Dr Evan Jones – The parlous history of NAB’s Clydesdale Bank (Part 1): Long under the radar – 22nd February 2018

Dr Evan Jones – The parlous history of NAB’s Clydesdale Bank (Part 2), 24th February 2018

CONDUCT, CAPITAL – Half Year 2019 CYBG PLC Earnings Call

Reuters – Banks Gamed FCA & SME’s – 23/5/2019

Letter to Duff & Phelps from APPG Kevin Hollinrake 07/06/2019 re their vexatious conduct towards the Simpsons

Jun 19 2019 Rachel Wolcott, Regulatory Intelligence, Reuters: FCA ignored warnings banks would game interest

Jun 21 2019 Rachel Wolcott, Regulatory Intelligence, Reuters: FCA’s 15-month interest-rate swap redress review to hinder claims, say industry officials.

July 1 – 2019  – Daily Telegraph – How CYBG boss David Duffy aims to disrupt British banking with Virgin Money rebrand  

David Duffy: ‘It’s a tough thing to do but you’re building something that could be very disruptive and irritating for the other big banks, which fills me with great pleasure’

July 25 2019  Times  James Hurley :  Walkout threat hits bank compensation scheme for small firms

July 29 2019  Lindsay Rogerson, Regulatory Intelligence, Reuters : UK’s new finance minister told to stick to predecessor’s stance on SME redress

August 2 2019 FT  John McDonnell :  Labour vows to hold public inquiry into UK Financial Sector – as per Australian Royal Commission

28 July 2019  Independent  James Moore : Britain’s challenger banks aren’t mounting much of a challenge any more

August 2 2019 House of Commons Treasury Committee : the work of the FCA : the perimeter of regulation   – Page 6 Paragraph 13   Clydesdale / Yorkshire Tailored Business Loans

August 4 2019 Now I can bale out of RBS, says Kiwi Mr Fixit Ross McEwan

August 7  2019  Lindsay Rogerson, Regulatory Intelligence, Reuters : Historic bank redress scheme in danger of collapse, business leader asks Javid to intervene……Nikki Turner   SME Alliance

August 18 2019 Emma Dunkley : struggling Clydesdale and Yorkshire Banking Group faces fresh hit from PPI   

August 19 2019 Times James Hurley :  Use RBS dividend to compensate small companies mistreated by banks

August 22 2019 Lindsay Rogerson, Regulatory Intelligence, Reuters : Business Banking Resolution Scheme on track for UK Launch at end of year

August 24 2019 – Times – Hunger strike over bank “whitewash”

August 25 2019 – Mail On Sunday – Nationwide Hunger Strikes

August 25 2019 Guardian UK banks face week of hunger strikes and protests

August 27 2019 letter to David Duffy from Stephen Kerr APPG

August 30 2019 MPs back businessman on hunger strike at Clydesdale Bank

August 31 2019 Times MP attacks Clydesdale Bank over hunger striker John Guidi

2 September 2019 – Times – Conflict of interest claim against Financial Conduct Authority in Connaught fund review

2 September 2019 – Times – Alternative lending – “FLOP” – Helps just 800 small companies a year – EST John Glen, MP

2 September 2019 – Times – Clive May; RBS story & EFG 

5 September 2019 – Daily Mail – CYBG shares plunge as it becomes latest bank to be hammered by deadline

6 September 2019 – Times -Sir Richard Branson counts cost as Clydesdale Bank rocked

6 September 2019 – FT -CYBG pays the price for not knowing its share of PPI

6 September 2019 – Irish Times – David Duffy led CYBG’s share plunge

7 September 2019 – Times – Banks accused of forging signatures

7 September 2019 – Daily Mail – Top police chief claims banks are forging signatures on legal documents on an industrial scale as he accuses government agencies of sitting on “overwhelming evidence”.

8 September 2019 – Mail on Sunday – Bank under pressure as granny turns hunger striker

10 September 2019 – Times – Banks’ payouts in PPI scandal will reach £50bn

10 September 2019 – Times – Pressure on National Crime Agency for action over bank forgery claims

10 September 2019 – Times – PPI scandal – The cash cow that turned sour

10 September 2019 – Daily Record – Gran on hunger strike at Clydesdale Bank HQ in Glasgow in loan protest

16 September 2019 – Reuters – Treatment of vulnerable customers tells FCA much about culture whether firms are meeting its standards



Link to Cerberus / Promontoria page.