Finance
Banks Face Record Number of UK Lawsuits as Economy Stumbles
- Financial firms faced 1,100 new cases in 2023, a report shows
- Challenging economy and fraud trigger lawsuits, lawyers say
Banks in the UK are embroiled in the highest number of lawsuits in a decade in a trend that shows no sign of slowing down.
Almost three new cases involving financial services firms were filed every day on average at the UK High Court last year, according to a report prepared by law firm CMS along with Solomonic Litigation Intelligence.