The Financial Conduct Authority (RBS) could 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 refunds of fees charged from 2013 . The Financial Conduct Authority (FCA) has produced an update on its delayed report into Royal Bank of Scotland ’s conduct. After at least three years of complaining of bad service from the bailed-out bank, small businesses will receive refunds of the fees they were charged and will be allowed to make fresh complaints about their treatment between 2008 and 2013 in a process that will be overseen by a retired high court judge. The The Financial Conduct Authority confirmed that it had identified poor practice at the bank, but denied that RBS deliberately undermined businesses to boost its own profits.
The Financial Conduct Authority (RBS) could 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 refunds of fees charged from 2013 . The Financial Conduct Authority (FCA) has produced an update on its delayed report into Royal Bank of Scotland ’s conduct. The The Financial Conduct Authority confirmed that it had identified poor practice at the bank, but denied that RBS deliberately undermined businesses to boost its own profits.