Reuters reports that RBS said it was being investigated by regulators in the United States, Britain and Japan and by competition authorities in Europe, the United States and Canada. However, it was not possible to measure reliably what effect the inquiries would have, including the timing and amount of fines or settlements.
In the meantime, Bloomberg reports that Bank of America received formal inquiries from investigators pressing their probe into the possible rigging of a key international lending benchmark.
The bank received subpoenas and requests for information from the U.S. Department of Justice, Commodity Futures Trading Commission and U.K. Financial Services Authority, the firm said Thursday in a filing. Bank of America also said regulators have asked whether the company properly oversaw vendors who sold identity-theft protection products to its customers.
Finally, The Daily Telegraph reports that Barclays has failed in an attempt to delay a legal claim over allegations it mis-sold an interest rate swap to a care home operator.
Barclays is facing its first court battle over Libor-rigging allegations after losing an attempt to have a case delayed over claims it mis-sold an interest rate hedge to a business customer.
Judge Simon Brown QC yesterday rejected Barclays’ move to have a mis-selling claim brought by care home operator Guardian Care Homes pushed back and ordered the bank to file a defence by the end of next week.
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