FCA hits RBS with s166 review over its treatment of small firms

The review - also known as a section 166 after the part of the Financial Services and Markets Act (FSMA) to which it refers - will look into the banks treatment of customers in financial difficulty. The decision by the Financial Conduct Authority (FCA) to launch an independent probe follows reports published this week by Sir Andrew Large into lending practices at RBS and, separately, by Dr Lawrence Tomlinson into banks' treatment of customers having financial problems. Tomlinson's report is focused on the bank's Global Restructuring Group lending division, which manages 'risky' loans....