Royal Bank of Scotland: Small Businesses

(asked on 6th February 2018) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, pursuant to the oral contribution of the hon. Member for Sefton Central of 6 February 2018, Official Report column 1388, Point of Order whether there are discrepancies between the summary and the full contents of the section 166 report on RBS's treatment of small business customers; and if he will make a statement.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 12th February 2018

The Financial Conduct Authority (FCA) has published its final summary of the independent review of the Royal Bank of Scotland’s (RBS) treatment of small and medium-sized enterprise customers transferred to its Global Restructuring Group (GRG). The review is a matter for the FCA, which is operationally independent of Government.

The FCA announced it is investigating the matters arising from the review and focusing on whether there is any basis for it to take further action. It would not be appropriate for the Government to comment further whilst this process is ongoing.

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