A governmental business adviser has presented a report to business secretary Vince Cable, warning of ‘inhumane’ treatment by banks including RBS and Lloyds.
The anecdotal evidence represents a compilation of case studies, many from people who are apparently unwilling to speak publicly about the treatment they have received from the banks.
Among them is at least one example of an individual who worked at one of the government-backed banks, but left due to feeling uncomfortable at the “cruel, inhumane, non-commercial policies and decisions” they were asked to apply.
The file was compiled by Lawrence Tomlinson, described as ‘entrepreneur in residence’ at the Department for Business, Innovation and Skills.
Mr Tomlinson said: “There is a complete lack of trust towards the banks and, in many cases, this is for a justifiable reason.
“This is coupled by an astonishing fear of the banks; no-one dares tell it as it is.”
In response to the report, described as “worrying” by BIS, the department has expressed its concern not only at the treatment of some employees and customers within the banking system, but also at the reluctance of many of those affected to speak out.
With lending practices at RBS currently the subject of an ongoing independent review, this latest report is expected to swell the list of issues for the review to take into consideration – and businesses have also been told to submit their evidence to the review in their own right.