RBS and NatWest fined £2.8 million by FSA

Fines have been administered to two high street banks who did not handle customer complaints in the proper manner. Customer complaints that were mishandled by RBS and NatWest have caused the FSA to issue fines to both lenders. Royal Bank of Scotland (RBS) and NatWest have been fined £2.8 million by the Financial Services Authority (FSA) after failing to deal with customer complaints correctly. The FSA found that the banks had delayed responding to customer complaints, carried out badly executed investigations and provided inadequate explanations to consumers, according to the BBC.