Responding to the news that RBS has set aside a further £400 million for expected fines, [1] Charlotte Webster, Campaign Director of Move Your Money, said:

"This £400 million provision for expected fines from RBS is the latest in a long line of issues for the state-owned bank. But with an 81% stake, it's taxpayers who are once again paying for the mistakes of the private banking industry.

Their potential liabilities total up to £100 billion, [2] it's time RBS and the wider banking industry were held to account.

"As if these problems weren't enough, RBS is also gambling with our future by investing over £15.5 billion of our money into fossil fuel extraction,[3] despite public sentiment and clear evidence of the risks.[4] It's up to all of us to force the bank to change its ways. If you bank with RBS or NatWest, put them on notice now by visiting the Move Your Money website and and tell them 'either change, or I walk.'"

Move Your Money 4

[1] http://www.theguardian.com/business/2014/oct/31/royal-bank-of-scotland-rbs-sets-aside-400m-forex-rigging-fines

[2] http://www.independent.co.uk/news/business/news/rbs-could-fail-due-to-100bn-black-hole–with-british-taxpayers-in-line-to-lose-their-entire-45bn-stake-9466823.html

[3] http://reinhardbuetikofer.eu/wp-content/uploads/2014/03/GND-Carbon-Bubble-web1.pdf

[4] http://moveyourmoney.org.uk/wp-content/uploads/2014/10/Move-Your-Money-Divest-Full-Report.pdf

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