Monday, 23 October 2017

Royal Bank of Scotland faces 'further action' by financial regulator



The financial regulator has said it may take "further action" over the way Royal Bank of Scotland mistreated some small business customers.

 
The Financial Conduct Authority has published an interim report into failings by the RBS division that dealt with struggling businesses.


The Global Restructuring Group was found to have "widespread" mistreatment of customers in some areas.


RBS said it had acknowledged failings and again apologised for its mistakes.


The FCA report identified a number of failings, including that 92% of viable firms handled by GRG suffered "inappropriate action", such as interest charges being raised or unnecessary fees added.
It was cleared in others, according to the report prepared for the regulator.




BBC      News.