BGN Entrepreneur

RBS has been fined £28.6 million by the competition watchdog after two employees of the bank revealed details of its loan prices to Barclays. RBS was hit with the penalty following a two-year probe by the Office of Fair Trading after Barclays came forward in March 2008.
The two employee told RBS’s competitor the cost of loans to companies such as solicitors and accountants between October 2007 and March 2008. One of the employees involved has since left but the other still works for RBS and now faces suspension and further investigation.
The bank said that the behaviour of its employees was unacceptable. The breaches of confidence date to the early stages of the credit crunch.

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