Royal Bank of Scotland: Small Businesses

(asked on 8th July 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to undertake an independent quality assurance review of RBS Global Restructuring Group's treatment of SMEs.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 13th July 2020

The fact that there were areas of widespread inappropriate treatment of firms by RBS GRG is clearly unacceptable. RBS rightly apologised for these mistakes, and set up a scheme to compensate victims. This scheme has, to date, paid out [£150] million to complainants.

This complaints process, overseen by Sir William Blackburne, adds a robust, transparent and independent step to the complaints process, should SME customers who were in GRG wish to complain about their treatment or challenge the bank’s decision on a previous complaint.

Therefore the Government will not establish an independent quality assurance review.

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