RBS allegations are “deeply troubling and extremely serious” says Mark Carney

Bank of England governor Mark Carney has described allegations that RBS forced small firms out of business and then bought their premises at low prices in order to make a profit, as “deeply troubling and extremely serious”.

Speaking to MPs yesterday, Carney said that if the claims proved to be true, “this behaviour is a fundamental violation of the integrity of the banking relationship”.

The accusations emerged after a report compiled by businessman, Lawrence Tomlinson, showed that firms that had been forced into RBS’s restructuring group were then hit with high interest rates and fines, before selling their assets at rock-bottom prices to RBS’s property arm West Register.

The report was deemed so serious it was handed to Bank of England deputy governor Sir Andrew Large who has recommended that the bank look into the damaging claims.

But the committee’s chairman, Andrew Tyrie, queried Carney’s surprise at the allegations.

He said: “We as MPs have been inundated with complaints about this for years. [We were] told that this was not so, there were no supply constraints, that customers were being treated reasonably.”

“Don’t you think it’s shocking that these manifest weaknesses and maltreatment of RBS customers had not been picked up much earlier by somebody?”

Carney responded by saying that if the behaviour was common and widespread, then it would be “remarkable” and “shocking” that it had not been picked up on by City regulators, the RBS board, or UKFI, the group which oversees the stake in the state-backed banks RBS and Lloyds.

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Readers' comments (1)

  • Swiss Bank Accounts .---May. -----2014.

    Is your monies safe in these accounts ---- definitely NOT.
    Would you get your money back if every body decided to withdraw all their accounts – NO WAY.
    Economic Experts say that there would only enough money to repay 50% of their clients.
    Are you going to be in the 50% --- that loose your money.-- Get it out NOW.

    2012 -- - June. -- Published in Anglo INFO .Geneva.--- USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank.Switzerland. in order to collect large fees. ( Like MADOFF) ---Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90,000,000 million lost in this Pictet Ponzi scheme.

    2012 - - - July. -- De – Spiegel. -- states – Pictet Bank uses a letterbox company in
    Panama and a tax loophole involving investments in London to gain
    German millionaires as clients.

    2012 - - - August ---- German Opposition Leader accuses Swiss Banks of "organised crime."

    All the fines that crooked Swiss banks have incurred in the last few years exceeds £75.Billion.
    It is also calculated that the secrecy " agreements" with regards to tax evation by their clients will cost the banks another £450 Billion.( paid out of your monies.)

    The banks are panicking --- the are quickly restructuring their banks ---- from partnerships --
    to " LIMITED COMPANIES." ----- this will probably mean that in the future --- they could
    pay you only 10% of your monies " if you are one of the lucky ones" ---- and it be legal.

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