MPS to grill bank chief over ‘hanging’ memo
RBS employees in a controversial small business unit joked about letting customers “hang themselves”, newly published memos reveal.
The revelation came as it was confirmed RBS chief executive Rossmcewanwillbehauledin front of MPS later this month to answer questions about the conduct of the Global Restructuring Group (GRG).
The Treasury select committee confirmed Mr Mcewan will appear alongside chairman Sir Howard Davies on 30 January.
Following a request from chairwoman Nicky Morgan for unpublished memos, details of how staff were encouraged to extract money from struggling businesses have come to light.
One2009memoentitledjust Hit Budget! talks of applying high interest rates to encourage customers to sign over a stake in their business.
The memo says: “Rope: Sometimes you need to let customers hang themselves.” SNP committee member Stewart Hosie said the memo was “shocking reading” and a “step by step guide to fleece RBS customers”.