RBS fined £29 million for sharing pricing information

RBS has agreed to pay the UK Office of Fair Trading (OFT) £28.59 million to settle allegations it shared pricing information on future lending packages with rival bank Barclays.

RBS admitted that individuals within its professional practices coverage team broke UK competition laws between October 2007 and February or March 2008. The OFT says there is evidence Barclays had also broken the rules.

"This is a deeply regrettable and isolated case from almost two years ago, involving only two members

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