The Financial Conduct Authority (FCA) will fine Royal Bank of Scotland about £15m for giving poor sales advice to mortgage customers in the latest blow to the taxpayer-controlled bank's reputation.
HSBC has given 15 of its top bankers “fixed pay allowance arrangements” worth £7.1m under a controversial new pay scheme designed to dodge tough new European Union rules on bankers’ bonuses.
A £600m provision for mis-sold payment protection insurance and this week's £226m penalty for rigging interest rates has dented profits at Lloyds Banking Group in the first half of the year.
The prices demanded by sellers putting their homes on the market have fallen for the first time this year, in the latest sign that some of the heat is coming out of the UK housing market.
Citigroup agreed to pay $7bn on Monday to settle a federal investigation into the toxic mortgage products the bank sold in the run-up to the financial crisis.
Damning allegations that Barclays cheated and defrauded its customers pushed shares in the besieged bank to their lowest levels in 18 months on Thursday and set back attempts by its boss Antony Jenkins to turn around its troubled reputation.
Royal Bank of Scotland is expected to face shareholder attacks at its annual meeting on Wednesday after paying out £3.4bn in bonuses in the past four years.
Banks across the EU have been put on notice that regulators are preparing fresh guidelines to ensure they do not breach a cap on bonuses.
Ross McEwan, chief executive of Royal Bank of Scotland, received shares on Friday worth almost £1.5m in the bailed-out bank.
Royal Bank of Scotland has become the second major lender to clamp down on large mortgages, announcing it will restrict lending on loans above £500,000 as fears grow that the London property market is entering bubble territory.