Royal Bank of Scotland will announce on Tuesday that it is setting up a scheme to compensate some of the small business owners that allegedly suffered at the hands of its restructuring unit in the aftermath of the financial crisis.
The state-controlled bank is expected to admit some wrongdoing over the way its Global Restructuring Group handled small businesses that were moved under its control. But it will reject allegations that it tried to profit from their distress.
The bank has previously admitted that GRG did get some things wrong, such as transparency on fees and apparent conflicts of interest. Many of GRGs top managers have left and it has been folded into other parts of the bank.
The announcement, due to be released before…
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