Victims at Royal Bank of Scotland are small firms which accuse them of whitewashing their bullying tactics. The small firms found the City Watchdog' report a whitewash.
RBS moved them to their GRG arm which has a well known reputation of getting small firms bust and buying up, cheaply, their assets.
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There were internal memos were managers of RBS encouraging a "dash for cash" that closed their business and ruined their lives.
Despite the many small firms which went bust and evidences the Financial Conduct Authorities cleared RBS of wrong doing.
The bank sets aside a £400 million to compensate the loss of their businesses. It was dismissed as a joke.
They demand £25,000 for each 16,000 firms which were put into GRG since 2008. In view of the evidence how can the Financial Conduct Authority dismiss that amount of evidences and clear the bank?
Even RBS chairman Jeremy Roe, represent SMEs taking action against RBS, had to admit: "I'm frustrated and disappointed with FCA
"The group which was guilty of misconduct get access to the report and its appalling its allowed to set up its redress scheme. RBS has been allowed to be judge, jury and executioner. This is yet another whitewash. The £400million is a joke."
One of the people who lost his business stated that the £400million would not even cover their Solicitors' fee.
RBS owes the taxpayers over £980million. Will we ever get that money back?
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