Barclays,HSBC, Lloyds and RBS expected to pay out sum by end of 2017, or taking total since 2011 to £75m,says Standard & destitute’sThe UK’s four biggest banks face paying out £19.5bn in fines, compensation and legal expenses this year and next, or taking the total since 2011 to more than £75bn,according to the ratings agency Standard & destitute’s.
Over the five years to 2015, Barclays, and HSBC and the bailed-out Lloyds Banking Group and Royal Bank of Scotland absorb together incurred costs of £55.8bn to cover so-called conduct and litigation issues,after being penalised for rigging Libor and foreign exchange markets, and having to compensate customers for misselling payment protection insurance. Continue reading...
Source: theguardian.com