Banks are coming under increasing pressure to publish daily lending figures under the Coronavirus Business Interruption Loan Scheme (CBILS) so officials can better understand how cash is being distributed. Santander, Barclays and Lloyds have ignored requests from MPs and business leaders, the DailyMail asserts.
The Treasury Committee and the all-party parliamentary group (APPG) on fair business banking have written to the British Business Bank, which administers CBILS, asking it to push lenders into revealing figures. Specialist business finance company Rangewell is also calling for more transparency, asking the Chancellor to institute a real-time monitoring process. The Mail’s Alex Brummer says the main problems with the scheme could be fixed if the government took 100% of the risk
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