THE reputation of Royal Bank of Scotland plunged to a new low yesterday after an investigation found staff at the lender mimicked a foreign national, threatened business owners with receivership, and urged colleagues to state claims from a retail customer which had gone into administration. The damning findings are documented in a 362-page report into the state-backed bank’s treatment of business customers, published by the Treasury Committee under parliamentary privilege yesterday. READ MORE: RBS finds it difficult to leave the past behind Loading article content The Financial Conduct Authority (FCA) had previously resisted publishing the report in its entirety, citing legal reasons. But it had come under increasing pressure to publish the full findings as details of the bank’s treatment of customers were laid bare in the House of Commons last month. Those included a shocking memo entitled “Just Hit Budget!”, which under a section titled “Rope” advised: “Sometimes you just need to let customers hang themselves.” One City analyst declared that the report “shines a light on the gruesome culture” at the heart of the bank’s Global Restructuring Group (GRG). Treasury Committee chairman Nicky Morgan, who had ordered the City watchdog to publish the full report by February 16, branded… Read full this story
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