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PPI Claim News - 2/12/2009

Credit Card Charges: Government seizes bonus funds

The government is on a collision course with bankers after taking control of the Royal Bank of Scotland's bonus fund in advance of the end-of-year bonus season.

Chancellor Alistair Darling has demanded control over the size and terms of bonus payments at the bank, which is majority-owned by the taxpayer, the Times reports today (December 2nd).

Last year, the Royal Bank of Scotland paid out around £1 billion in bonuses, but this year the government will force the bank to pay out only in the form of shares, not cash.

The intervention by the Treasury has been criticised by other investors in RBS who have expressed worries that the firm will lose staff.

Many of the other investors are insurance companies, and are being backed by the Association of British Insurers.

Recently, a report by the Centre for Economics and Business Research found that bonuses are set to rise this year and continue on an upwards trajectory in 2010 and beyond.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from the Royal Bank of Scotland then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000.ADNFCR-2776-ID-19490255-ADNFCR

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