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Hester gives up RBS bonus

Stephen Hester, the boss of Royal Bank of Scotland, has said he will not take his bonus this year after IT problems left thousands of customers struggling

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Treasury Select Committee:'We need to know what went wrong'

The Chairman of the Treasury Select Committee today wrote to the Chief Executive of RBS Group, Stephen Hester, and to the Chairman of the FSA, Lord Turner, outlining a number of specific issues the Committee feels need to be addressed with regards to the ongoing IT issues.

Commenting on the letters the Chairman Andrew Tyrie said:

It is clearly unacceptable that so many people have suffered, and continue to do so, as a result of what looks to have been a major IT failure. This is the latest in a series of computer failures to have affected bank customers. We need to know exactly what went wrong and what will be done to give us confidence that similar mistakes are not repeated in the future.

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