Royal Bank of Scotland ( RBS ) will face costs of £ 400 m in compensation to small businesses that it treated poorly during the financial crisis . RBS has apologised to 12,000 businesses which will be permitted to file complaints about treatment and will receive automatic payment of fees charged from 2008 - 2013 . The Financial Conduct Authority ( FCA ) has produced an update on its delayed report into RBS ’s conduct . The FCA confirmed that it had identified poor practice at the bank , but said that RBS deliberately undermined business to boost its own profits .
Royal Bank of Scotland (RBS) could face costs of £400m in compensation to small businesses that it treated poorly during the financial crisis. RBS has apologised to 12,000 businesses which will be permitted to file complaints about treatment and will receive automatic refunds of fees charged from 2008-2013. The Financial Conduct Authority (FCA) has produced an update on its delayed report into RBS’s conduct. The FCA confirmed that it had identified poor practice at the bank, but denied that RBS deliberately undermined businesses to boost its own profits.