RBS fined for breach in competition law

Part-nationalised Royal Bank of Scotland was today fined £28.6m (€31.8m) for breaking competition law after revealing details of its loan prices to rival Barclays.

The Office of Fair Trading (OFT) said RBS told Barclays the cost of its loans to large professional firms such as solicitors and accountants through a series of contacts between October 2007 and February or March 2008.