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RBS reassesses its employees in damage control

Royal Bank of Scotland (RBS) was assessing the behaviour of employees at its investment bank and considers cutting bonuses after it took a $669 million (R8.02 billion) fine by US authorities for rigging currency markets. ||| RichardShow More Summary

UK lender faces a $4.5bn tab in lawsuit

Royal Bank of Scotland, Britain’s largest taxpayer-owned lender, could pay as much as $4.5 billion (R53.9bn) to resolve claims of misconduct in its handling of US mortgage securities, according to Bloomberg Intelligence. ||| RichardShow More Summary

More fines in wings for Barclays, RBS

Barclays and Royal Bank of Scotland, which were fined $3 billion (R35.68bn) on Wednesday for rigging currency markets, will have to set aside another £7bn (R129.24bn) for misconduct within two years, JPMorgan Chase said. ||| BARCLAYS...Show More Summary

Open thread for night owls. Democracy Now interviews Matt Taibbi on confessed bank crooks

Matt Taibbi Amy Goodman interviewed Rolling Stone journalist Matt Taibbi on the news that the five banks—Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and UBS—which pleaded guilty to rigging the price of foreign currencies and interest rates were fined more than $5 billion. Show More Summary

Royal Bank of Scotland Fires 3 Employees Amid US Investigation

RBS Chairman Philip Hampton said that the Royal Bank of Scotland fired three employees and suspended two others in an investigation into employee foreign exchange abuses.

Five Major Banks Agree to Plead Guilty to Felony Charges

last weekNews / Crime : FBI News Blog

Agreements by Citicorp, JPMorgan Chase & Co., Barclays PLC, The Royal Bank of Scotland plc, and UBS AG to plead guilty to felony charges were announced today by the FBI, the Department of Justice, and the Commodity Futures Trading Commission during a press conference in Washington, D.C.

Four Banks Plead Guilty To Foreign Exchange Collusion, UBS Pleads Guilty To Wire Fraud

U.S. banking giants Citigroup and JPMorgan Chase and U.K.-base conglomerates Barclays and The Royal Bank of Scotland have agreed to plead guilty antitrust violations stemming from their collusion to manipulate prices in the foreign exchange market over the course of five years, the Department of Justice said on Wednesday.

Banks fined $2.5 billion, to plead guilty to market rigging

Four big banks will pay $2.5 billion in fines and plead guilty to criminally manipulating the global currency markets going back to 2007. JPMorgan Chase, Citigroup, Barclays and The Royal Bank of Scotland...

It looks like bailing out Royal Bank of Scotland could have lost taxpayers £13.5 billion

George Osborne could be about to admit defeat on the bailout of the Royal Bank of Scotland and swallow a £13.5 billion ($20.89 billion) loss for the UK taxpayer. The new Conservative government is reportedly considering speeding up the...Show More Summary

Nomura, RBS Ordered to Pay $806 Million to Housing Agency

``Nomura Holdings Inc. and Royal Bank of Scotland Group Plc were ordered to pay $806 million in damages to government-owned mortgage companies over misleading securities pitches. A federal judge in New York on Friday ordered the banks to pay the full amount requested by the Federal Housing Finance Agency. Show More Summary

Nomura, RBS must pay $806 million in mortgage bond case: U.S. judge

NEW YORK (Reuters) - A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac. Show More Summary

Nomura, RBS face $805 million damages after U.S. ruling: lawyer

By Nate Raymond NEW YORK (Reuters) - A U.S. judge's ruling that Nomura Holdings Inc and Royal Bank of Scotland Group Plc made false statements selling mortgage-backed securities to Fannie Mae and Freddie Mac could result in a judgment exceeding $805 million, a U.S. Show More Summary

Bank parents or main units seen pleading GUILTY over FX Manip

A handful of banks will likely resolve forex-rigging investigations by the U.S. Justice Department as soon as this week: JPMorgan Chase & Co (JPM.N) Citigroup (C.N), British banks Royal Bank of Scotland (RBS.L) and Barclays (BARC.L) and Swiss bank UBS (UBSG.VX). Show More Summary

Judge Sums Up Banks' 2008 Behavior in 8 Words

If you had to name two banks guilty of selling lousy mortgage packages during the financial meltdown of 2008, it's doubtful you'd tick off the names Nomura Holdings of Japan and the Royal Bank of Scotland. But as Reuters reports, a federal judge yesterday declared that both lied through their...

Nomura sold Fannie Mae, Freddie Mac toxic mortgages: judge

2 weeks agoNews : NY Daily News

A judge wrote that Nomura Holdings and Royal Bank of Scotland Group deliberately deceived buyers of billions in toxic mortgages.

The UK government doesn't want to be a bank shareholder anymore

The UK government can't wait to get out of Royal Bank of Scotland and Lloyds, it seems. The new Conservative government is reportedly considering speeding up the sale of shares in both banks, Reuters reports, even if it means selling...Show More Summary

UK's Osborne may sell state-owned RBS shares at a loss: paper

LONDON (Reuters) - British finance minister George Osborne may sell state-owned shares in Royal Bank of Scotland at a loss as part of plans for an accelerated sale of government holdings in the sector, a newspaper reported. Finance ministry...Show More Summary

Exclusive: Head of Coutts Intl set to exit following UBP deal - source

ZURICH (Reuters) - Alexander Classen, chief executive of Royal Bank of Scotland's overseas private banking arm, is set to step down shortly following a sale to Union Bancaire Privee (UBP), according to a person familiar with his thinking. Show More Summary

Some Like It Hot (22/12/15)

Here's a great letter from an irate contractor who was working at the Royal Bank of Scotland's headquarters in London when his lunch was rather rudely interrupted by a PR stunt organised by Russell Brand. To be fair to Russell he was actually big enough to reply and apologise for losing his temper and spoiling Jo's lunch. Show More Summary

RBS will be hit by 'substantial' litigation costs and fines in 2015

The boss of the Royal Bank of Scotland just revealed that the British lender will be hit by fines of a "substantial" proportion in 2015. Ross McEwan said on an analyst call today that "we are anticipating some challenging outcomes and...Show More Summary

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