Tomlinson accuses RBS of mistreating small firms

GOVERNMENT adviser Lawrence Tomlinson has accused state-backed Royal Bank of Scotland of systematically mis-treating small firms.

By The Newsroom

Published 29th Jan 2014, 16:10 BST

Yorkshire entrepreneur Mr Tomlinson wrote a report last year accusing RBS of pushing small firms into default so it can charge higher fees and seize control of their assets.

Mr Tomlinson told the Treasury Select Committee that the majority of cases related to RBS and its Global Restructuring Group (GRG) turnaround division.

”I have had so many cases wherever I go. It seems to be systematic to me...cases with RBS GRG follow a system,” he said.

RBS’s chief executive Ross McEwan has said that he doesn’t believe the bank, 82 per cent-owned by the Government, conducted a “systematic” effort to profit from its troubled business customers.

Britain’s financial regulator is examining the allegations and RBS has appointed Clifford Chance to conduct a review.