Three of Britain’s biggest banks have been hit by what is potentially the biggest LIBOR lawsuit to date by the US government.
The Federal Deposit Insurance Corporation (FDIC) has alleged that Lloyds Banking Group (LBG), Barclays and Royal Bank Of Scotland (RBS) played a part in the collapse of 39 US banks worth more than $400 billion.Read More
New figures show that just 5% of the huge cost of the UK’s bailout of the country’s financial system in 2008 remains to be recovered.
A total of £1.13 trillion was paid out by the Labour government to rescue the British financial industry and keep them going through the credit crunch and recession which followed the crash.Read More
Alistair Darling, Britain’s Chancellor of the Exchequer when the financial crash exploded the British economy, has become the latest voice to warn about the rising level of UK consumer debt.
Lord Darling was speaking on the 10th anniversary of the 2007 crash which led to the Labour government spending billions of pounds to rescue Britain’s banks.Read More
HSBC has become the third High Street bank to set aside millions of pounds more to pay future successful PPI claims.
The world’s largest bank has set aside an extra £228 million in its half year figures bringing the total new provision for PPI mis-selling in just one week to more than £1.6 billion.Read More
Lloyds Banking Group (LBG) have added £1.05 billion to their PPI provision in just six months and admitted even that may not be enough.
The increase takes their overall provision for paying out successful PPI claims to £18.075 billion.Read More