SMEs refuse to let RBS off the hook

Royal Bank of Scotland could face new action over its treatment of small businesses during the financial crisis, despite the closure last month of an official inquiry into the scandal.

Royal Bank of Scotland could face new action over its treatment of small businesses during the financial crisis, despite the closure last month of an official inquiry into the scandal.

The SME Alliance, a small-business group with a strong track record of championing the interests of smaller firms, has announced its own investigation into RBS. The bank has been accused of severely damaging small businesses placed in its Global Restructuring Group (GRG) unit for struggling companies following the credit crunch.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.