Royal Bank of Scotland (RBS) has been warned that it must provide customers affected by the recent technical issues with 'clear and straightforward' information on compensation.
The chairman of the Commons Treasury Committee, Andrew Tyrie, has called for clear information to be given to customers to assist the compensation process.
A computer failure in early June meant thousands of customers under the RBS group experienced weeks of payment disruptions, such as duplicate transactions. The bank has confirmed that it has set aside £125 million to fund its customer redress.
Mr Tyrie also urged all banks to assess their IT systems to avoid similar problems occurring in the future.
He said: "The recent IT failure at RBS Group affected millions of individuals and a wide range of businesses in the UK and Ireland.
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