RBS To Close GRG Complaints Process On October 22nd

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The GRG (Global Restructering Group) at The RBS was responsible for the hardship of many U.K. businesses.

The now defunct turnaround unit has been accused of pushing businesses towards failure in the hope of picking up assets on the cheap and selling them on to boost the banks profits

The complaints process was opened in November 2016 and gave automatic refunds on complex fees.

Just two years on and the shutters come down on acceptance of new complaints.

Businesses have until October 22nd to lodge a claim.

You can read the full article here.

The RBS has so far offered £125 million to victims of GRG.

This figure includes £115 million offered to 3,500 customers as part of an automatic refund process.

Out of 16,000 customers eligible to make a complaint, so far only 1,230 complaints have been made. The bank receives about 6 new complaints per week

RBS has put aside £400 million in provisions to cover the GRG compensation scheme, which included set-up and running costs.

The closure of the complaints programme does not have any bearing on legal cases launched outside the scheme.

ClaimExperts.co.uk can help you make a GRG compensation claim and urges victims to complete the enquiry form by clicking here.

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