Ratings agency Moody’s has produced a new report which claims bad behaviour by the world’s banks has cost them $273 billion (£210.25 billion) so far – with more still to come.
Top financial journalist Eshe Nelson says: “It’s a number that gives big bank execs nightmares. In the nine years since the global financial crisis, US and European investment banks have set aside $273 billion in provisions to pay for fines and other litigation related to bad behaviour.”Read More
Gareth hands over the cheque for £400 to fundraiser Allan Eves
Gareth Smith has been back to Liverpool’s Alder Hey Children’s Hospital to say ‘thank you’ for saving his life when he was just one day old.
Gareth nominated the hospital’s Children’s Charity as GB’s charity of the month for July as his way of saying thank you for the life-saving operation performed by surgeons after it was discovered he had been born without an oesophagus.Read More
Royal Bank of Scotland (RBS) has been hit with a £4.2 billion fine from US authorities for selling toxic mortgages in the run up to the financial crisis.
But the pain is not over yet as another fine from the US Department of Justice (DOJ) is expected later in the year and there is speculation that it could be as high as $12 billion.Read More
The Co-operative Bank is no longer up for sale with a rescue plan on the horizon.
The bank had put itself up for sale in February after it was unable to meet capital requirements for Bank Of England regulations.Read More
Britain’s banks have paid out billions of pounds in compensation for successful PPI claims over the past seven years, but not all claims are successful and the banks have also rejected millions of claims in that time.
It’s impossible to say how many have been rejected over the years, but once a rejection is received it’s important to understand that all is not lost.Read More
The UK government is preparing to sell off another £6 billion worth of Bradford and Bingley (B&B) mortgage loans – twice the expected amount.
The sell-off follows the successful deal in which insurance giant Prudential and US private equity firm Blackstone bought £11.8 million worth of B&B mortgages in March.Read More
Kelvin Hughes of Dravet Syndrome UK receives our £400 donation from Sarah Cunliffe who nominated the charity
Our charity of the month for June is Dravet Syndrome UK, nominated by Sarah Cunliffe.
Dravet Syndrome is a rare and disabling type of epilepsy which is all the more distressing as is presents in infants and for which there is no known cure.Read More