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RBS could face ‘substantial damages’ over US mortgage bond sales

RBS could face ‘substantial damages’ over US mortgage bond sales

Royal Bank Of Scotland (RBS) could be facing ‘substantial damages’ after an American court ruled it had engaged in an ‘enormous deception’ selling mortgage-backed securities in the US.

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Banks to plead guilty to FOREX rigging

Two of Britain’s biggest banks are expected to plead guilty to charges that they conspired to manipulate FOREX – the foreign exchange rate – and it will cost them billions of pounds in fines from UK and US regulators. Barclays and Royal Bank Of Scotland (RBS) are among a number of institutions which have been […]

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A tale of two banks

Lloyds Banking Group (LBG) and Royal Bank Of Scotland (RBS) were both bailed out by the British government at the height of the financial crisis in 2008, but the fortunes of the two banks have differed widely since then. The bailout figure for Lloyds was £20 billion which gave the British taxpayer a 43.4% stake […]

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SUCCESS STORY – It’s like winning the pools or the lottery!

Newsagent Alan Bennett was delighted when he received more than £25,700± in compensation for mis-sold PPI after claiming with Gladstone Brookes. “I was really surprised at how much I got back,” he said. “It’s like winning the pools or the lottery.” Expected But the money didn’t come from where he expected it to. Said Alan: […]

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Orcel says sorry for causing financial meltdown

Andrea Orcel, the man whose advice cost the British taxpayer £45.5 billion, has finally said sorry seven years later. Orcel was the man who advised Royal Bank Of Scotland (RBS) on its disastrous acquisition of the ABN Amro Bank in 2007 which led to the UK government being forced to bail out RBS to save […]

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Lloyds challenged over executive bonuses

Lloyds Banking Group (LBG) is being challenged over paying huge bonuses to its top executives while its bill for mis-selling PPI is £12 billion and growing. As LBG shareholders prepare to vote on pay and bonuses at the bank’s annual general meeting, experts have been criticising the bank for the way in which it has […]

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Co-op Bank offloads £1.5 billion of ‘risky’ mortgages

The troubled Co-op Bank has offloaded £1.5 billion of ‘risky’ mortgages as part of a bid to get the business back on an even keel. It has completed the first part of the process to sell part of the toxic Optimum loan book it acquired as part of its takeover of the Britannia Building Society […]

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HSBC now hints at ‘spin off’ of retail banking arm

HSBC now hints at ‘spin off’ of retail banking arm

by Mike Birkett, 19/06/2018 HSBC now hints at ‘spin off’ of retail banking arm HSBC are considering ‘spinning off’ their UK retail business if planned bank reforms become ‘too electrified.’ Days after announcing that a decision on moving their headquarters from London to Hong Kong is likely in ‘months not years’, Europe’s largest bank says […]

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Clydesdale Bank to be sold off by NAB

Clydesdale Bank is to be sold off by its parent company National Australia Bank (NAB) who say there are ‘significant risks and uncertainties’ surrounding the conduct of the UK operation. In a statement NAB said: “This is a substantial and complex undertaking, subject to risk and addressing a number of issues of which the most […]

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Another £91 million for PPI as HSBC threatens to quit UK

HSBC has added another £91 million to its PPI provision just weeks after announcing it may be moving its headquarters out of the UK. Europe’s biggest bank was the last of the big four to announce its quarterly figures and the new provision takes their total pot to almost £2.6 billion, a fraction of the […]

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