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British Regulator Shuts Door on RBS Business Loan Scandal

  • Politician calls FCA probe a ‘whitewash’ after no action taken
  • RBS and executives escape punishment because of regulation
Royal Bank Of Scotland Group Plc Branches And Headquarters As Bank Plans More Than $1 Billion Of Expense Reductions
Photographer: Luke MacGregor/Bloomberg
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The U.K. won’t take action against Royal Bank of Scotland Group Plc over failings in its small-business lending unit because the law doesn’t allow the agency to act.