Britain’s government needs to limit compensation paid to customers mis-sold loan insurance, John Cridland, director-general of the Confederation of British Industry, wrote in the Times on Monday. The head of Britain’s biggest business lobby group wants the government to introduce …
Barclays, already rocked by an interest-rate rigging scandal, on Wednesday disclosed new U.S. regulatory investigations into the bank’s financial probity and also said its profit was hit by charges for mis-selling insurance. Its shares fell almost 5 percent, hurt by …
UK banks face new rules to stamp out sales incentives that have encouraged mis-selling of financial products going back two decades, the Financial Services Authority said on Wednesday. UK banks have been hit by a series of scandals in the …
The Royal Bank of Scotland, which is majority owned (82 percent) by the UK government, confirmed on Friday it has dismissed a number of employees for misconduct as a result of its investigations into the Libor interest rate rigging scandal …
HSBC’s chief executive apologized on Monday for shameful and embarrassing mistakes made on anti-money laundering controls as the bank set aside $2 billion to cover the cost of U.S. investigations and compensate UK customers for mis-selling. Europe’s biggest bank reported …
Britain will expose on Friday a second scandal involving the country’s banks in as many days, as Barclays boss Bob Diamond clings to his job after regulators slapped a record fine on the lender for rigging interest rates. The Financial …
British banks gave up a fight over compensating customers wrongly sold insurance, forcing Barclays Plc and HSBC to take a combined hit of more than $2 billion in the latest blow to the industry. Barclays said it would make a …
Lloyds, the UK’s state-backed bank, which has no affiliation with Lloyd’s of London, took a shock £3.2 billion ($5.3 billion) charge against its profits on Thursday to cover compensation for people sold insurance they would never be able to claim. …
