Aodhan O'Donnell, from the Consumer Council, welcomed the fine saying "lessons need to be learned"
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RBS IT meltdown: Ulster Bank parent group fined £56m

Ulster Bank's parent company Royal Bank of Scotland (RBS) has been fined £56m by the UK's financial regulators over the IT meltdown in 2012.

The failure left hundreds of thousands of customers unable to use their accounts for up to a month.

Aodhan O'Donnell, interim chief executive of the Consumer Council, said he was disappointed it had taken over two years to "get answers from the financial regulator".

BBC News NI's Economics and Business correspondent John Campbell reports.

  • 20 Nov 2014