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Bank fines cash given to north Hampshire charity
A MILITARY charity in north east Hampshire is set to receive cash from fines levied on banks for rigging interest rates.
The North East Hampshire Domestic Violence Forum, which helps victims of domestic abuse in military families, will receive £59,380 from the Armed Forces Covenant (LIBOR) fund.
LIBOR, the London inter-bank lending rate, was manipulated by major banks for profit – a scandal that came to light at the height of the financial downturn. Banks including Barclays and the Royal Bank of Scotland were fined and some of this money has now been distributed to charities.
James Arbuthnot, MP for North East Hampshire, said: “This is extremely good news for the forum and the Armed Forces community. Fines levied on banks for manipulating the LIBOR rates are going to worthy causes to help those who contribute so much to our country and I am very pleased that one of the charities in my constituency will benefit.”
The forum works with military families in Rushmoor and Hart, including those at RAF Odiham.
Karen Evans, chair of the forum, said the money will be spent on developing an information booklet that will be available across the country to military and civilian support services.
She added: “Domestic abuse can affect anyone and although we haven’t found any evidence that domestic abuse is more or less prevalent within the armed forces than in any other community, we are aware that there may be specific concerns people have and we are looking to gain a further understanding of what these concerns are and how support can be put in place.”
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