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Re:Leaked Files Reveal Royal Bank of Scotland Harmed British... by Lio on Monday October 10, 2016 @07:41AM (#12676459)
I'd like to see both the RBS executives responsible for this and Clifford Chance, the legal firm RBS called in to do an "independent review" sanctioned in some meaningful way.

Their independent review was clearly a sham even down to the point that RBS denied to MPs that their Global Restructuring Group was being run as a profit centre for the bank. Something we now know was the deliberate intention from the top of the bank down.

As someone running a small business the idea that a bank could deliberately try to destroy its customer's profitable businesses in order to seize their assets at a knocked down rate is terrifying and should be treated as criminal matter.

Re:Leaked Files Reveal Royal Bank of Scotland Harmed British... by Scirra_Tom on Monday October 10, 2016 @08:36AM (#12676681)
Oh Clifford Chance. They facilitated a competitor sending us groundless* cease and desists which caused a great deal of anxiety. Guess I'm not surprised to see them rubbing shoulders with my favourite bank RBS.

RBS ran a great scam when I was at University, free 3 year railcards for signing up a student account. No one I knew ended up getting one unless they complained.

I forgot about it, and complained 6-12 months later and asked for a 2 year railcard. They denied, and basically said I shouldn't be so entitled and that the bank are doing students a favour and that I should of complained earlier.

RBS is also a bank I phoned up in tears because I couldn't manage my credit card debt when I was younger and in a bad time in my life. Was offered zero breaks. I expressed commitment to repaying the debt, but needed a couple of months breathing space on the repayments. Nope, not an option.

They are one of the shittiest banks in the world, and I'm always more than happy to tell people my experiences of them when they pop up in conversation.

* This is my opinion of the letter. Guess I have to make that explicit in this context.

Re:Leaked Files Reveal Royal Bank of Scotland Harmed British... by vidarh on Tuesday October 11, 2016 @06:07AM (#12682890)
For future reference (or for others..): If you really can't pay in the UK, set out your expenses and income clearly in a letter, demonstrating that you've taken reasonable step to limit your spending, address it to all your creditors, and ask for interest to be frozen and offer what you believe you can afford (proportional to debt) to pay to each creditor on weekly or monthly basis. If they refuse, then pursue a debt management plan.

Most creditors in the UK will play hardball if you talk to first line staff, but will act more reasonable if you demonstrate that you have done your homework in determining what you can actually afford to pay, partly as that implies that you likely is also aware of alternatives like a debt management plan or IVA (Individual Voluntary Arrangement), or ultimately bankruptcy, which may leave them without full repayment.

Re:Leaked Files Reveal Royal Bank of Scotland Harmed British... by arethuza on Monday October 10, 2016 @07:56AM (#12676524)
The idea that a large law firm could do an "independent review" is a bit bizarre - if they didn't already have some part of RBS as a client they'd be keen to get RBS as a client after they delivered a whitewash.
Re:Leaked Files Reveal Royal Bank of Scotland Harmed British... by vidarh on Monday October 10, 2016 @08:15AM (#12676593)
And in fact, they had parts of RBS as clients both before and after.

Clifford Chance is not just any large lawfirm - they're persistently amongst the top ten lawfirms in the world by revenue, and one of the firms making up the UK "magic circle" lawfirms (at least 3 of the others of which are also amongst the top ten in the world).

They'd bend over backwards for a bank the size of RBS, as they are a big enough behemoth that their revenue would slide very quickly if they showed any kind of spine when it came to standing up to customers that size - it's not like they could easily replace lost revenue from a client like RBS from smaller clients.

It's a problem with companies like that (both RBS and Clifford Chance) - RBS isn't just too big to fail for the UK, it's too big for a lawfirm as bloated as Clifford Chance to afford to risk their relationship with.

EDIT: In fact, not only is RBS a Clifford Chance client, but specifically the property arm of RBS (West Register) that is one of th divisions implicated in this, has used Clifford Chance. As you can see from Clifford Chance's own website [1] [2].

[1] https://www.cliffordchance.com/news/news/2012/11/clifford_ch...

[2] https://www.cliffordchance.com/news/news/2015/09/clifford-ch...