MPs call for new powers for watchdog after inaction on RBS

Britain's financial watchdog should get new powers to regulatebusiness loans after it was unable to punish Royal Bank of Scotlandfor its "deficient" treatment of customers, lawmakers said on Tuesday.The Financial Conduct Authority (FCA) announced on Tuesday it was taking no enforcement action against the bank or staff in its Global Restructuring Group (GRG) unit, accused by small firms of stripping their assets between 2008 and 2013.FCA Chief Executive Andrew Bailey said that the watchdog's powe