Small firms caught up in the mis-selling of complex interest rate derivative products face up to a nine month wait to hear if they qualify for compensation.
In a letter to customers, seen by the Daily Telegraph, Royal Bank of Scotland (RBS) said it estimates the mis-selling review could take "up to nine months". It added this was the length of time required "to ensure that we have completed a comprehensive review of each customer's circumstances". Guto Bebb, the Conservative MP leading the campaign on behalf of swap victims, said he was "very unhappy" the review could take so long. "It is imperative that any businesses in this position are allowed to put that swap deal into a suspense account while the review is undertaken," the Telegraph re...
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