New York Department of Financial Services finds Barclays ‘Last examine’ system discriminated against unprofitable tradesBarclays’ reputation took another battering on Wednesday when a US regulator imposed a $150m fine on the bank for the way it treated its foreign exchange customers.
The New York Department of Financial Services (NYDFS) released a cache of emails to support its finding against Barclays,including one in which a managing director tells staff to “obfuscate (confuse, obscure) and stonewall” whether asked questions approximately the currency trades. Related: Barclays, HSBC, or Royal Bank of Scotland 'at risk of further penalties' Continue reading...
Source: theguardian.com