Banks Threaten To Leave Scotland If People Vote For Independence

By: Thursday September 11, 2014 4:16 am

Some of the biggest banks in Scotland are threatening to leave if the people there vote for independence from Britain. In a move designed to pressure the people of Scotland to stay within the UK, the Royal Bank of Scotland and Lloyds Banking Group have said they will relocate if Scotland votes for independence in [...]

In Bank Fraud, Responsibility Lies at the Very Top

By: Friday December 14, 2012 6:59 am

The Office of the Comptroller of the Currency, which under the direction of Thomas Curry has been moderately more tough-minded against the banks, released a report that essentially admits that the big banks are poorly managed and have inadequate risk management controls. As Yves Smith points out, this means that the executives need to go [...]

Royal Bank of Scotland Trader: Any Employee Could Change Libor

By: Friday August 24, 2012 6:15 am

The Royal Bank of Scotland is not having a good week. Earlier in the week they became the latest to be subject to investigation on the grounds of money laundering. Now they are embroiled in the Libor scandal, with one trader claiming that anyone at RBS had the opportunity to rig the benchmark interest rate: [...]

Another International Bank Cops to Money Laundering Violations With Iran

By: Wednesday August 22, 2012 11:57 am

I think what we’ve learned by now is that every international bank in the world may have violated US anti-money laundering guidelines, specifically when it came to doing business with countries barred by sanctions. Royal Bank of Scotland is only the latest, and you can add it to the growing list of firms we know [...]

Snapshots of an Era of Bank Greed and No Accountability

By: Tuesday July 17, 2012 6:55 am

I thought that, given all the pervasive bank crimes over the last several years, we wouldn’t have a time when the roof appeared to cave in on the financial industry. But I’m getting that feeling today. All of the criminality and venality and greed seems to be coming to a head. Take JPMorgan Chase, not [...]

Head of Royal Bank of Scotland Forced to Return His Bonus

By: Tuesday February 7, 2012 2:35 pm

Here’s a story that shows the power of pressure on even the loftiest of our financial overlords: Stephen Hester, head of the Royal Bank of Scotland, gave way to heavy political pressure last night to forego his £963,000 bonus. The final straw for the RBS chief executive appears to have been the looming threat of [...]

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