Royal Bank of Scotland

HM Treasury written question – answered on 23rd June 2015.

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Photo of Stephen Gethins Stephen Gethins Shadow SNP Spokesperson (Europe)

To ask Mr Chancellor of the Exchequer, what representations he has made to the Royal Bank of Scotland on ensuring (a) pensioners and (b) other customers receive payments on time.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

The Government created a new, tough City regulator, the Financial Conduct Authority (FCA), to protect customers and ensure Britain’s banks conduct themselves to the highest standards. The FCA has been in contact with Royal Bank of Scotland (RBS) regarding the recent IT issue affecting customer payments, and worked closely with the bank to resolve the problem. The payments issue has now been resolved, and the regulator will continue to work with RBS to diagnose and fix the root cause of the problem.

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