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Tuesday, 28 April 2015

Tuesday, April 28, 2015 Posted by Hari 2 comments Labels: , , , , ,
Posted by Hari on Tuesday, April 28, 2015 with 2 comments | Labels: , , , , ,


SOURCE DAILY MAIL: Britain's biggest banks face further £19bn of fines and charges to pay for financial scandals
The UK’s ‘big four’ banks – HSBC, Barclays, Lloyds Banking Group and Royal Bank of Scotland – have already racked up a £42billion bill in the UK over the last five years. This represents 88 per cent of the industry wide total of £48billion in charges faced by 13 banks and building societies in Britain. S&P said it now expects the UK’s four biggest lenders to face further penalties in 2015 and 2016 of £19billion – taking the total for the big four to £61billion. The bill has been driven by the mis-selling of payment protection insurance (PPI) as well as interest rate hedging products to small and medium-sized businesses. ‘We think that conduct and litigation charges are now a way of life for the UK banking industry,’ said S&P in the report.


OUR RELATED STORIES:

As of 2014, the £20bn paid out by the banks for their PPI mis-selling is more than all their taxes paid since 2008

The bailout of our banks continues. Not from the taxpayer, but from your pathetic savings interest rates. See the BofE data

Financial Reporting Council says just 2% of bank and building society audits are up to scratch

The Interest Rate Swaps that screwed 40,000 small and medium sized businesses: how the regulator allowed the banks to be judge and jury for their own dodgy deals

RBS accused of seizing small business assets and selling them at knock-down prices to an RBS subsidiary

The government wants you to think we made a profit on sale of Lloyds Bank shares. Actually we made a thumping loss!

How re-mortgaging covered up the theft of Britain's growing wealth in the boom, and helped cause the bust



2 comments:

  1. Screwing small businesses and the public sounds like a dry run to test the opportunities for TTIP. God help us all if Tories get to run with that.

    ReplyDelete
  2. The information on this site is valuable. However, it is presented in a way that makes it very difficult to read. Please simplify the layout and dump the clever web design. Thanks.

    ReplyDelete

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