Our regulator is, I’m sure, staffed by diligent people doing their very best in difficult circumstances. Were one to raise a criticism, it might be their tendency to close stable doors long after various horses have galloped into the sunset. Did it really need an ‘in depth review’ to work out that lots of those who can’t afford to be are getting ripped off by lenders. Just look at the ads on daytime TV. And, by the by, were one to fully utilise a £5,000 overdraft facility with Lloyds bank for a year, it would now cost well over £2,000.
“Bank of Scotland fined £45.5m over fraud failure”
Unbelievably, in its pomp and at the height of its powers, RBS’s balance sheet was larger than the whole of the UK economy. Little wonder that its management lost control of the worst of its staff or (depending on your viewpoint) felt they were so big and powerful...
