RBS fined £14.5 million for poor mortgage advice

The latest in a long line of 'unacceptable' failings could have cost borrowers their homes, says regulator

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(Image credit: 2008 AFP)

The Royal Bank of Scotland and NatWest have been fined £14.5 million by the Financial Conduct Authority (FCA) for giving poor mortgage advice to customers.

The regulator said that the largely tax-payer owned bank did not consider its customers' budgets fully, and did not offer appropriate debt management advice, the Financial Times reports.

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