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IOM Bank / RBSI fined over a million quid by FSA


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2 hours ago, La_Dolce_Vita said:

I don't know the details of what sort of regulations were warranted following the 2008 financial crisis but my understanding was that more regulation was needed. Are the wrong things being regulated? Or has it gone too far?

RBS/NatWest came out of the 2008 scandal as one of the main perps, they then proceeded to try and destroy many of their own clients which they had forced into sticky situations. They are a criminal organisation, nothing more, nothing less. Heads needed to roll after their criminal Global Restructuring Group activities, they caused many bankruptcies and suicides when they tried to steal properties out from under their customers to inflate their portfolio. Absolute cunts, hanging is too good for those involved.   

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15 hours ago, La_Dolce_Vita said:

I don't know the details of what sort of regulations were warranted following the 2008 financial crisis but my understanding was that more regulation was needed. Are the wrong things being regulated? Or has it gone too far?

The banking crisis of 2008 was caused by banks and investors blindly lending to people for properties they couldn't really afford. These bad loans were then packaged up and sold onwards to other banks and investors. Huge numbers of the recipients of the loans eventually were unable to pay, defaulted, the banks seized the properties and they were left owning properties that were valued at significantly less than the loans provided. 

It wasn't caused by money laundering or regular Joe's not providing proof of ID and address confirmations, it was caused by the greed of banks.

Edited by The Phantom
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21 hours ago, Hairy Poppins said:

They mention the onboarding of new clients... I'm actually amazed anyone managed to open an account with them. 

I've had an account with them for almost 40 years, last year I wanted to open an additional account and was told there was a 6 month waiting list/processing time...during the process they managed to lose copies of my documents... 

Currently looking for a new bank. 

Told us six month too. That was to open another business account. We already had one with them for several years 

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On 2/16/2024 at 1:05 PM, Hairy Poppins said:

They mention the onboarding of new clients... I'm actually amazed anyone managed to open an account with them. 

I've had an account with them for almost 40 years, last year I wanted to open an additional account and was told there was a 6 month waiting list/processing time...during the process they managed to lose copies of my documents... 

Currently looking for a new bank. 

Ditto. In the end I opened an account with Santander. They weren’t really much quicker to be honest, and the mobile banking app is shocking.

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21 hours ago, Gladys said:

We should all fear a Motu Propio through the post. 

We certainly should be, if we knew what message meant??? Even Wiki is vague!!!

So, your Bank want you to complete the 'Hoo Yu'' questionaire, what if you don't? Are they going to close your account and lose your contribution to their business? Lose their fees?

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