Do you understand the Principle of TCF – Treating Customers Fairly? If so why does your Bank’s behaviour remain inherently dishonest and why is its bad behaviour getting worse under your control?
I will explain why I ask and give you an example of such behaviour;
One of your customers, we will call him Mr. X, was 10 years ago mis-sold an Interest Rate SWAP when the Bank salesmen dishonestly told him that the Bank expected interest rates to increase. The reality is your Bank and every Bank out there knew with certainty at that time that rates would decrease.
When the SWAP was sold 2 banks in your Group acting in tandem NatWest and RBS, set up a credit facility of £300k without his knowledge, to cover the expected losses on the SWAP and secured that against his properties again without his knowledge. They also sold him a commercial loan on his new home instead of a mortgage in their greed for a larger SWAP sale.
Three years later when rates decreased they confirmed to him that following interest rate reductions, the SWAP credit facility he had not signed for and knew nothing about, had now reached £500k and his manager then told him he was now in breach of his Loan to on his facilities and he would have to go into GRG!
In the subsequent years in full knowledge that he had been mis-sold both the SWAP and the mortgage, GRG then attempted to extort fees for fabricated consulting work and tried to asset strip him with a PPFA for such ‘continued support’.
This was before you were in charge.
Since you have been in charge the Bank has admitted both mis-selling the SWAP and the mortgage however, they would only offer him compensation if he accepted a proportion of his money under a rigged ‘full and final settlement’ in the SWAP Review?
Unwilling to sign up to an unlawfully imposed settlement, he had no choice but to sue the Bank and before doing so, several subject access requests were undertaken to analyse the banks credit files and applications. Your central credit files from the RMP system showed that the bank manager 10 years ago acted incompetently and a claim was initiated.
In discovery however, those alleged same credit files when received contained almost 5 extra pages setting out never before seen facts, that evidenced the bank manager had it would seem, undertaken substantial due diligence before offering the loan, the new version of the credit application contained an additional 1,877 words not seen in the original credit file.
So, we have 2 options, either;
1. The bank 2 years ago withheld crucial information Mr X was entitled to, in an information request to unfairly and unlawfully gain an advantage, or;
2. The Bank is rewriting its central credit files, doctoring the RMPS files now, to cheat him out of justice!
Either way this Bank is spending substantial amounts of money on its lawyers defending previous dishonesty and crooked behaviour.
Some would say that the Bank behaves in this manner because it can, because it has deep pockets however, I would say that this Bank does not have deep pockets; in fact it has no pockets at all and it is using tax payers’ money, our money, to ruin customers it has already mistreat over many years.
This is happening on your watch.
You may attempt to deny knowledge of such behaviour however, put plainly as many of us know having dealt with Batt, Hughes, McDonald etc. there is no area in this Bank that one is less likely to get a straight answer, than from than your own executive response team, why is that!
This bank will never repay the tax payers or return monies to its shareholders, whilst this culture of dishonesty prevails.
I will give you one such example of your executive team’s behaviour;
A man is in danger of losing his home in Cheshire, I will call him Mr. Y. Following a Court Case at which your bank again introduced bogus central files to win the case, Mr. Y went to his MP for help, and he gave them documents supporting his allegations. The MP’s office then without Mr. Y’s authority or knowledge gave those documents straight to your Ms. Macdonald and, this was the subsequent e-mail interchange;
Yes – and I thought it was all over! I have just had a rather long phone call from him asking me to forward everything to the bank. I told him that Mr Osborne cannot be involved any further and he has to contact you himself. I did not tell him that I have forwarded the emails to you.
The phone will be on answerphone for the rest of the day!
Ms Macdonald replied;
And we had such a quiet period there!
Hope all is well and I agree, please don’t respond and the team here will investigate. If we need to arrange a response, we will certainly copy or blind copy you in.
Jane the responded;
For your information, today I have received these 2 emails (below and attached) from Mr Y. I will not be replying to him.
Just who do these people think they are, that is your personal Business manager instructing the then Chancellor George Osborne’s office, to ignore his constituent and do as the Bank instructs, in control of an MP complaint.
This is appalling behaviour.
I am here today with an ex member of RBS staff Mark Wright, Mark whistle blew in your bank and paid the price losing his career and health for doing so. He is however, now prepared along with his colleagues to tell the truth about what is happening in your Bank, right under your nose.
In the first instance, Mark and his colleagues have a key piece of advice for yourself and Sir Howard, if you are prepared to put your signature on letters to MP’s please ensure you actually know the facts held on your central system, before approving misleading statements.
Mark unfortunately found that he could trust neither your Bank nor the regulator when reporting RBS Misbehaviour and therefore he is setting up a forum for whistle-blowers from all banks called Bank Confidential. He will be in touch shortly, with this Bank’s Board, along with all other major Banks, to ask for support and sponsorship to help provide a safe environment in which staff can speak out, and I hope the Board will be supportive of this forum.
However, the facts remain Mr. McEwan, that either you know about the misbehaviours of your Bank or you don’t, in which case you are possibly the only person in the UK not privy to one of the financial arenas worst kept secrets.
So, I will ask my question again;
Why is this Banks behaviour getting worse under your control?
Will you offer financial support to the new Whistleblower forum BankConfidential?