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UK bank RBS accused of driving small firms to collapse

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UK bank RBS accused of driving small firms to collapse
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Fresh accusations have been levelled at British bank Royal Bank of Scotland (RBS) – part-nationalised in 2008 following a government bailout.

Government advisor Lawrence Tomlinson – who works under Business Secretary Vince Cable – has claimed that RBS pushed struggling firms into joining the bank’s turnaround unit, so it could charge higher fees and take control of their assets.

Cable has demanded an urgent response to the allegations from RBS and Britain’s financial regulators.