February 6, 2018 / 2:41 PM / a year ago

Royal Bank of Scotland executives 'misled' politicians over small business report -lawmaker

LONDON, Feb 6 (Reuters) - Royal Bank of Scotland executives “misled” a parliamentary committee over the contents of a report into the bank’s treatment of small businesses, a lawmaker said in Britain’s parliament on Tuesday.

The chief executive and the chairman of state-owned RBS offered misleading evidence about the extent to which the report accused the bank of systematically pushing small business customers in its restructuring unit into further distress, Clive Lewis, a member of the opposition Labour party, said.

Britain’s Financial Conduct Authority last year published a summary of the report into RBS’s Global Restructuring Group, after clashing with lawmakers over the disclosure of its full contents.

Customers have accused the GRG of pushing ailing firms into bankruptcy to pick up their assets on the cheap.

RBS chief executive Ross McEwan said last month the bank would not try to block the FCA from publishing the report but has repeatedly rejected the interpretation that the report finds the bank guilty of systematic mistreatment of businesses.

Reporting by Emma Rumney and Lawrence White, editing by Louise Heavens

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