Friday, 20 October 2017

Police conduct inquiries into Royal Bank of Scotland unit over claims it profited from stricken firms

Police are looking into the treatment of customers by a division of RBS which was set up to help companies in trouble, the BBC has learnt.

GRG was the part of the bank tasked with helping small businesses, but it has been accused of mistreatment by some customers and MPs.

Officers in Scotland are conducting inquiries into the GRG unit, but are yet to open a formal investigation.

RBS said it would co-operate with any request for information.

Separately, the BBC has obtained a memo written by a GRG employee which appears to show staff were encouraged to extract money from struggling firms.
The bank said the language in the leaked memo - written in 2009 by a junior GRG manager who has now left the company - was "wholly inappropriate".

The UK's financial watchdog, the Financial Conduct Authority (FCA), has told the BBC it plans to publish a report into the allegations of the mistreatment of customers before the end of the month.

BBC       News.