Page 224 - Bank Case Studies

He said the businesses had then been moved to the bank's

Global Restructuring Group (GRG), which had charged extra

interest and fees.

RBS denied GRG had treated customers unfairly. It

commissioned its own inquiry, which rejected the main

allegations in Mr Tomlinson's report. (2,3)

Tomlinson commented:

"I've been with them 20 years. I've tried to help

them change, and they've cancelled all my
business and personal accounts - I think to just

create the maximum amount of disruption to me

and my businesses" (3)

The business secretary, the chancellor of the exchequer,

and the governor of the Bank of England all demanded an

urgent regulatory investigation. Within a day of the report

being published, the Financial Conduct Authority had

launched an official inquiry. (25)

The FCA had no option but to undertake a review. Most

practitioners expected it to take about six months. But it

took until April 2016.