Archive For October 16, 2016

RBS held to account

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RBS held to account Sunday Times, 16.10.16   There isn’t much to add to what has been said about the latest revelations concerning Royal Bank of Scotland and its Global Restructuring Group (GRG). There’s no doubt some small businesses in hock to the bank were hopeless cases. But the revelations from the BBC and BuzzFeed…

Enough damage has been done, RBS needs to admit its faults’

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Enough damage has been done, RBS needs to admit its faults’ The Guardian, 14.10.16   Lawrence Tomlinson Next month it will be the third anniversary of the publication of my report into banks’ treatment of small and medium sized businesses. The main findings of my report related to the Royal Bank of Scotland’s turnaround division,…

Treasury denies insider dealing after disclosure of bank secrets

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Treasury denies insider dealing after disclosure of bank secrets The Times, 13.10.16   The Treasury and the Financial Conduct Authority have denied an accusation of insider dealing after it emerged that they exchanged confidential information about a regulatory investigation into Royal Bank of Scotland.   Before the partial sale of the government’s stake in RBS,…

Meet The People Who Say Their Firms Were Destroyed By RBS

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Meet The People Who Say Their Firms Were Destroyed By RBS Buzzfeed, 12.10.16   Thousands of leaked documents revealed by BuzzFeed News and BBC Newsnight show how RBS’s troubled business division, Global Restructuring Group (GRG), systematically crushed thousands of businesses after the financial crash by draining them of cash and stripping their assets. The files reveal 16,000 firms were sucked…

RBS compensation call over shutdown of Sheffield school

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RBS compensation call over shutdown of Sheffield school Sheffield Telegraph, 12.10.16   A Sheffield businessman is calling for a multi-billion pound compensation scheme after fresh revelations about the way RBS treated small companies. Steve Wilkinson is calling for £200,000 compensation for 110 parents and 25 suppliers at the former Brantwood School in Nether Edge, Sheffield,…

Businesses phone legal firm to seek representation in action against controversial RBS division

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Businesses phone legal firm to seek representation in action against controversial RBS division City AM, 12.10.16   A law firm set up solely to sue Royal Bank of Scotland (RBS) has received a large uptick in calls from businesses who wish to be represented in the wake of recent leaked reports into the actions of…

Roger Mullin says tighter regulation of UK banks needed

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Roger Mullin says tighter regulation of UK banks needed The National, 12.10.16   A SCOTTISH MP is calling for regulation of the UK’s banking sector to be strengthened in the wake of allegations that Royal Bank of Scotland preyed on up to 12,000 business customers and drove many to the wall to cash in on…

MP calls for fraud squad probe into RBS Dash for Cash scandal

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MP calls for fraud squad probe into RBS Dash for Cash scandal Daily Record, 12.10.16   A LABOUR MP yesterday called on the Serious Fraud Office to launch an urgent investigation into RBS in the wake of the Dash for Cash scandal.   John Mann said the leaked documents, which show the taxpayer-owned bank secretly…

RBS may be facing its most damaging scandal yet

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RBS may be facing its most damaging scandal yet The Telegraph, 11.10.2016 By Ben Marlow   Like many fellow journalists, when accusations of serious wrongdoing first emerged at RBS’s Global Restructuring Group, I spent some time trying to nail this shadowy unit of the high street bank.   GRG was responsible for overseeing the small…

RBS Seeks to Ease Pressure Over Treatment of Small Businesses

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RBS Seeks to Ease Pressure Over Treatment of Small Businesses Cosumnes Connection, 11.10.16   The GRG witnessed a 400% increase in customers following the crisis.   The policy, known internally in the bank as “dash for cash” meant that staff could enhance their bonuses by seemingly appearing to help firms in debt but working behind…

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