EC deal could force banks to drop small businesses
Royal Bank of Scotland (RBS) could reportedly be forced by the European Commission (EC) to drop thousands of small business customers as the penalty for receiving state aid.
Reports suggest that the bank will have to get rid of 10% of its small business customers, which equates to around 100,000, under state aid rules. Lloyds Banking Group is also in talks with the EC and may have to reduce its share of personal account holders.
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