Tuesday 20 February 2018 / 6:56 PM Business

FCA report important step in delivering justice for victims of RBS’ greed and negligence – Bill Esterson

Bill Esterson MP, Labour’s Shadow Small Business Minister, commenting on the publication of the FCA report into RBS’ Global Restructuring Group mistreatment of thousands of small firms, said:

“This publication is an important step in delivering justice for the victims of RBS’ excessive greed and negligence. This wasn’t restructuring. This was wilful destruction that forced many successful firms to close in the ruthless pursuit of profit.

“The Government can no longer hide behind the FCA and must finally wake up and take action.

“They must now immediately put into place a proper system of regulation for lending to smaller firms, so that this kind of exploitative behaviour by a major financial institution can never happen again.”