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  1. Care UK faces legal action unless it pays more than £3m in compensation READ MORE HERE: https://www.gov.uk/government/news/care-uk-faces-legal-action-unless-it-pays-more-than-3m-in-compensation
  2. MasterCard is facing a multi-billion pound damages claim that could reach £19bn for imposing allegedly illegal card charges. The claim, the biggest in UK legal history, will be one of the first to be filed under the Consumer Rights Act 2015. The Act enables a collective damages claim to be brought on behalf of a class of people who’ve suffered loss. MasterCard was found, following a long-running legal battle with the European Commission that ended in 2014, to have infringed EU law by imposing charges (known as ‘interchange’ fees) on the use of MasterCard debit and credit cards. MasterCard had the option to accept that its card fees were set at an anti-competitive, high level and reach a settlement with the European Commission to lower its fees. The individual bringing the claim, Walter Merricks CBE, believes that Mastercard did not accept this, and then imposed what he alleges were unlawfully high card fees for nearly 16 years. Mastercard says it firmly disagrees with the basis of the claim. The claim is being brought as class representative by Merricks, as representative of the class of UK consumers that have suffered loss. http://creditstrategy.co.uk/article/18379/online-news/mastercard-faces-19bn-claim-over-card-charges Mastercard to pay out £68 million over fees Mastercard have been ordered to pay Sainsbury's £68 million over excessive fees.The people at the Competition Appeal Tribunal awarded the damages to the supermarket for "interchange fees", which MasterCard had levied over a six year period. This means that a host of other retailers will be able to start their own claims against MasterCard, and the cases could total £400 million. This is slightly different from the case which might get customers compensated. This revolves around an interchange fee which retailers pay every time a customer uses a credit or debit card. It has been decided by the European Commission that fees of around 0.9% of the value of each card card transaction is too high, and they've now capped that to 0.3% for credit cards and 0.2% for debit cards. However, the tribunal also said that these fees were not being passed on to customers. This doesn't harm the other class action suit, where MasterCard are looking at a claim worth £19 billion, which could see consumers getting themselves £400 for excessive charges. http://www.bitterwallet.com/banking/mastercard-to-pay-out-gbp-68-million-over-fees-92647
  3. The latest thing is the mis-selling of PCP car finance deals, according to the National Association of Commercial Finance Brokers (NACFB). They have said that lawyers have started to look at dealers and finance firms, to see if customers have been sufficiently informed about the higher interest rates for PCPs, and the like. With around a million cars being sold on PCP deals last year alone, if there's any deception found, this could be huge for the car industry, and indeed, very profitable for claims companies. If it is found that drivers have been poorly informed, or even deliberately mislead about PCP deals, there could be a lot of compensation flying around in the coming months. The NACFB said that two main things are being looked at. The first is that it is thought people taking out a PCP weren't warned that they'd be paying considerably more interest over the term of the loan, than the amount they'd be paying if they bought their vehicle under a hire purchase (HP) agreement. They're also looking at car salesmen, who may have told prospective buyers that, by considering PCP, they'll actually make a profit at the end of the contract, as the car they've bought is likely to be worth more than the final optional 'balloon payment' figure. http://www.bitterwallet.com/motoring/car-industry-faces-ppi-like-claims-92400
  4. Argos owner Home Retail Group is setting aside at least £30m in compensation after admitting thousands of store card customers were overcharged. The company has launched a detailed review into the issue, which relates to "buy now, pay later" plans for some of the retailer's 1.5 million store card holders who were charged excess fees for late payments. Chief executive John Walden said it affected up to 10% of Argos card customers. They are expected to receive compensation of up to £100 each and Home Retail (Other OTC: HMRLF - news) will write to affected customers in the next few weeks. The group said it had found that "a more extensive customer redress programme" would be required than first thought when the issue was discovered earlier this year, increasing the likely cost by about £30m. https://uk.news.yahoo.com/argos-owner-faces-30m-bill-085323975.html?nhp=1
  5. The following is a short extract from a press report in today's Daily Telegraph regarding the Reverend Paul Nicolson's forthcoming court appearance at Tottenham Magistrates Court: By the end of next week, Paul Nicolson could be facing prison and bankruptcy – an unexpected turn of events for an 84-year-old retired vicar who has never previously been in this type of trouble. On 15 June, he will appear at Tottenham magistrates court in north London for non-payment of council tax since 2013: he owes £2,831.42. Meanwhile, he must decide what to do about the £47,000 in costs awarded against him last month after he lost, in the high court, a case he brought against Haringey council over the level of court charges imposed on residents for non-payment of council tax. It is all a great deal of money that he doesn’t have, but he appears to be delighted at the potential scandal that the imprisonment of a retired vicar could stir up, and the useful attention that his case could bring to a little-understood aspect of welfare reform. “I am really not in the slightest bit afraid of prison,” Nicolson says. He is looking forward to his court appearance, where he will have the opportunity to explain why he has decided not to pay his bills. “One of the joys of refusing to pay,” he says, is that there is a “wonderful opportunity” to tell the story of why the 2013 abolition of a centralised council tax benefit has had such catastrophic consequences for hundreds of thousands of people. Tottenham’s magistrates would be wise to steel themselves for Nicolson’s 10 o’clock appearance in the dock, because his arguments are likely to be delivered with the mesmerisingly stern precision of a 1940s BBC newsreader. A group of protesters are due to gather outside the court in support of his campaign. http://www.theguardian.com/global/2016/jun/08/vicar-dibley-paul-nicolson-council-tax-refusing-benefit-cuts-jail-prison?CMP=Share_AndroidApp_Scoop
  6. The UK Civil Aviation Authority (CAA) has launched enforcement action against Ryanair. This action follows a review by the regulator that found Ryanair is not complying fully with European consumer law designed to support passengers following flight disruption. Ryanair is now required to make policy changes or face the prospect of further enforcement steps leading to court action, if the airline remains non-compliant. The CAA has concluded that: • It is not satisfied that Ryanair is dealing with compensation claims for disruption caused by routine technical faults in line with applicable consumer law – this is despite the UK Court of Appeal (in the case of Jet2.com v Huzar) clarifying how such claims are to be treated and assurances given to the CAA by Ryanair; and, • Ryanair is attempting to impose a contractual two-year time limit, from the date of the flight, for passengers to issue compensation claims at court – despite previously publicly committing to a six year time limit and in spite of the UK Court of Appeal (Dawson v Thomson Airways) ruling that passengers have up to six years to issue such claims at court. Ryanair is now required to make policy changes or face the prospect of further enforcement steps leading to court action, if the airline remains non-compliant. https://www.caa.co.uk/application.aspx?catid=14&pagetype=65&appid=7&mode=detail&nid=2484
  7. Please read this very carefully. As you may be aware jbw enforcement limited has recently changed name and has also been reincorporated. As follows : J.B.W. GROUP LIMITED MIDAS HOUSE 62 GOLDSWORTH ROAD WOKING SURREY GU21 6LQ Company No. 04118149Status: Active Date of Incorporation: 01/12/2000 Country of Origin: United Kingdom Company Type: Private Limited Company Nature of Business (SIC(03)): 7487 - Other business activities Accounting Reference Date: 31/03 Last Accounts Made Up To: 31/03/2007 (FULL) Next Accounts Due: 31/01/2009 Last Return Made Up To: 01/12/2007 Next Return Due: 29/12/2008 Last Members List: 01/12/2007 Previous Names:Date of changePrevious Name25/09/2008J.B.W. ENFORCEMENT LIMITEDSo jbw 1 is now jbw group limited as of 25/09/08 look below and you have the new jbw enforcement limited which was incorporated on 25/09/08 Name & Registered Office: J.B.W. ENFORCEMENT LIMITED 16 HEWETT STREET LONDON ENGLAND EC2A 3NN Company No. 06708297 Status: Active Date of Incorporation: 25/09/2008 Country of Origin: United Kingdom Company Type: Private Limited Company Nature of Business (SIC(03)): None Supplied Accounting Reference Date: 30/09 Last Accounts Made Up To: (NO ACCOUNTS FILED) Next Accounts Due: 25/06/2010 Last Return Made Up To: Next Return Due: 23/10/2009 The catch. If you were levied on by jbw enforcement ltd on or before the 25/09/08 then you need to address all complaints/claims etc to jbw group limited. If you are levied on after the 25/09/08 then it is jbw enforcement limited which you need to complain or claim against. It would not come as a surprise to anybody if jbw again change their name. How ever recently jbw enforcement 1 bought out the debt collector tj meagher. According to companies house this company is in liquidation. However this does not stop anybody from buying the debt ledger at silly money and then collecting of people ?
  8. Energy supplier Npower has been told that it may have to stop sales to new customers unless it can send out bills on time. The regulator, Ofgem, has warned the supplier that it needs to meet monthly targets on late billing. Unless it meets the targets by the end of August, Npower will have to stop all "proactive telesales" to new customers, the regulator warned. In a statement, Npower said that it was apologising to its customers "again". The company has topped the complaints tables for the "big six" energy firms every quarter since the end of 2012. Last month, Citizens Advice said its customer service operations were "unacceptable". Ofgem says Npower has about 400,000 invoices outstanding, affecting about 280,000 customers. Npower also has a backlog of 34,000 complaints which it hasn't been able to resolve within 24 hours Npower must reduce its its backlog of 400,000 outstanding invoices to 350,000 by the end of June, and to 100,000 by the end of August, otherwise it must suspend all telesales calls to attract new customers, and it will also be banned from selling www.bbc.co.uk/news/business-27920284
  9. These are from a book called Disorder in the Courts and are things people actually said ...in court, word for word, taken down and published by court reporters that had the torment of staying calm while the exchanges were taking place. ATTORNEY: What was the first thing your husband said to you that morning? WITNESS: He said, 'Where am I, Cathy?' ATTORNEY: And why did that upset you? WITNESS: My name is Susan! _______________________________ ATTORNEY: What gear were you in at the moment of the impact? WITNESS: Gucci sweats and Reeboks. ____________________________________________ ATTORNEY: Are you sexually active? WITNESS: No, I just lie there. ____________________________________________ ATTORNEY: What is your date of birth? WITNESS: July 18th. ATTORNEY: What year? WITNESS: Every year. _____________________________________ ATTORNEY: How old is your son, the one living with you? WITNESS: Thirty-eight or thirty-five, I can't remember which. ATTORNEY: How long has he lived with you? WITNESS: Forty-five years. _________________________________ ATTORNEY: This myasthenia gravis, does it affect your memory at all? WITNESS: Yes. ATTORNEY: And in what ways does it affect your memory? WITNESS: I forget.. ATTORNEY: You forget? Can you give us an example of something you forgot? ___________________________________________ ATTORNEY: Now doctor, isn't it true that when a person dies in his sleep, he doesn't know about it until the next morning? WITNESS: Did you actually pass the bar exam? ____________________________________ ATTORNEY: The youngest son, the 20-year-old, how old is he? WITNESS: He's 20, much like your IQ. ___________________________________________ ATTORNEY: Were you present when your picture was taken? WITNESS: Are you sh*tting me? _________________________________________ ATTORNEY: So the date of conception (of the baby) was August 8th? WITNESS: Yes. ATTORNEY: And what were you doing at that time? WITNESS: Getting laid ____________________________________________ ATTORNEY: She had three children , right? WITNESS: Yes. ATTORNEY: How many were boys? WITNESS: None. ATTORNEY: Were there any girls? WITNESS: Your Honor, I think I need a different attorney. Can I get a new attorney? ____________________________________________ ATTORNEY: How was your first marriage terminated? WITNESS: By death.. ATTORNEY: And by whose death was it terminated? WITNESS: Take a guess. ___________________________________________ ATTORNEY: Can you describe the individual? WITNESS: He was about medium height and had a beard ATTORNEY: Was this a male or a female? WITNESS: Unless the Circus was in town I'm going with male. _____________________________________ ATTORNEY: Is your appearance here this morning pursuant to a deposition notice which I sent to your attorney? WITNESS: No, this is how I dress when I go to work. ______________________________________ ATTORNEY: Doctor , how many of your autopsies have you performed on dead people? WITNESS: All of them. The live ones put up too much of a fight. _________________________________________ ATTORNEY: ALL your responses MUST be oral, OK? What school did you go to? WITNESS: Oral... _________________________________________ ATTORNEY: Do you recall the time that you examined the body? WITNESS: The autopsy started around 8:30 PM ATTORNEY: And Mr. Denton was dead at the time? WITNESS: If not, he was by the time I finished. ____________________________________________ ATTORNEY: Are you qualified to give a urine sample? WITNESS: Are you qualified to ask that question? ______________________________________ And last: ATTORNEY: Doctor, before you performed the autopsy, did you check for a pulse? WITNESS: No. ATTORNEY: Did you check for blood pressure? WITNESS: No. ATTORNEY: Did you check for breathing? WITNESS: No.. ATTORNEY: So, then it is possible that the patient was alive when you began the autopsy? WITNESS: No. ATTORNEY: How can you be so sure, Doctor? WITNESS: Because his brain was sitting on my desk in a jar. ATTORNEY: I see, but could the patient have still been alive, nevertheless? WITNESS: Yes, it is possible that he could have been alive and practicing law.
  10. The Co-operative Bank's rescue recapitalisation needs the support of £1.05bn – or around 80pc – of the holders of £1.3bn of its junior debt or the lender could end up being nationalised. A £1bn capital injection into the bank by its parent, The Co-operative Group, is contingent on enough bondholders agreeing to the deal, the company said on Monday. If this support is not forthcoming then Co-op Bank will be back in a position of having a £1.5bn capital shortfall and this could mean the business would be nationalised. The Co-op Bank's new chief executive, Niall Booker, also plans to separate the business into an asset management operation – or "bad bank" – and an ongoing business – the "good bank". The "bad bank" will hold toxic loans worth about £14.5bn. Assets in the bad bank will be run off over time, while the plan is to invest in the good bank and return it to profitability. Combined with this, the bank expects to take "further write downs" against the Finacle computer system. Current write-down is about £150m and the bank has spend £250m on the system. More: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10125254/Co-operative-Bank-faces-nationalisation-if-junior-bondholders-reject-haircut.html
  11. City regulator to investigate whether insurers 'drag heels' when it comes to paying claims. The new City regulator will investigate whether insurers are "dragging their heels" when it comes to settling valid claims, and relying on the small print of policies to avoid paying customers. Martin Wheatley, the chief executive of the Financial Conduct Authority said this investigation would form part of a wider "thematic" review into the insurance industry. Announcing this investigation he said that the number of complaints against insurance companies was rising "and more [of these complaints] are likely to be upheld in favour of the customer than ever before." He said this investigation would focus primarily on travel and household insurance claims, to see whether the process and claims culture at these firms was "fit for purpose". "It would be very difficult, if not impossible, to defend any company if it was found to be aggravating these experiences by dragging its heels – or trying to wriggle out of its responsibility to pay legitimate claims. Link: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/10061335/Insurance-industry-faces-claims-probe.html
  12. Computer problems that affected RBS customers last summer are to be investigated by the Financial Conduct Authority (FCA). The IT meltdown locked many RBS, NatWest and Ulster Bank customers out of their accounts. Some £175m has been set aside by the bank, which is 80%-owned by the UK government, for compensation payments. The bank said that it had improved its services since the problems occurred in June and July. The FCA has taken over investigative duties from the Financial Services Authority.It has not set a timetable for the investigation. The investigation is the first stage of a process that could lead to an unlimited fine if the regulator finds evidence of wrongdoing. It will cover the RBS Group - including NatWest and Ulster Bank. A spokeswoman for the RBS Group said: "Last summer's IT failure was unacceptable. We have already made significant improvements and over the next three years will invest hundreds of millions in our systems. "We will be working closely with our regulators in the UK and the Republic of Ireland. Our customers deserve a service they can rely on 100% of the time and that is what we want to provide." Backlog The meltdown was caused by a computer failure in the overnight transfer of money between accounts. Even though payments had been made - such as a business paying wages to staff - this did not show up on account balances. In turn this meant many customers could not make payments themselves, such as paying rent to their landlord. The failure effectively caused a traffic jam in the system. It created a huge backlog in updating account balances which was not solved for some time. Some Ulster Bank customers were among the worst affected, and their accounts were not back to normal for weeks. The problems also had a knock-on effect for customers of other banks because payments they were expecting had not come through from RBS accounts. The banking group apologised a number of times to the 16 million customers affected and set up a system of emergency cash payments and late branch openings. It promised that nobody would be left permanently out of pocket as a result of the problems, and automatically cancelled any overdraft fees that were triggered. However, it was one of a number of issues that struck blows to the reputation of the bank, which had to be rescued by the government during the banking crisis. In March this year, a separate incident caused problems with online and phone banking, cash withdrawals and debit card payments at the RBS Group banks, and left it with an additional compensation bill. This incident is not thought to be part of the FCA investigation. More; http://www.bbc.co.uk/news/business-22083695
  13. Financial Conduct Authority chairman John Griffith-Jones is facing calls to resign after he failed to flag up huge losses at HBOS in his role as chairman of accountancy firm KPMG. KPMG audited HBOS before its collapse and gave the bank a clean bill of health. Last week, the Parliamentary Commission on Banking Standards published a damning report about HBOS’s management. It revealed the bank was shouldering £47bn of losses when it was audited by KPMG. According to the Daily Mail, Labour MP and Treasury select committee member John Mann has called for Griffith-Jones to quit. He says: “He should absolutely resign. These grossly failed businessmen should not be in any senior positions in any organisation. Griffith-Jones played along with this Alice in Wonderland economics and the taxpayers are now footing the bill.” Tory MP and TSC member Brooks Newmark has written to committee chairman Andrew Tyrie calling for Griffith-Jones to resign. The FCA, which will publish a report on the bank’s collapse, says Griffith-Jones will not be involved. A spokesman says: “John Griffith-Jones was subject to a rigorous appointment process by HM Treasury, and had an appointment hearing with the Treasury select committee.” KPMG may be investigated by the Financial Reporting Council over its audit of HBOS. The FRC says it will review the commission’s report and the FCA’s conclusions “to see whether there is a case for an investigation under our powers”. Link: http://www.mortgagestrategy.co.uk/latest-news/fca-chair-griffith-jones-faces-calls-to-resign-over-hbos-audit/1069137.article
  14. I knew that young girl selling Lemonade in their advert was upto no good. . . . Banking giant HSBC, which was hit with a US fine for money laundering last year, is facing fresh accusations of illegal activity in Argentina. Argentina has alleged that the bank used "fake receipts" to facilitate money laundering and tax evasion, and launder 392m pesos ($77m; £50m). The country's tax authority said it had filed criminal charges against HSBC. HSBC said that it would cooperate with the investigation, adding that the allegations were "of great concern". "We are committed to working cooperatively with authorities to ensure a thorough review and appropriate resolution of the matter," said Lyssette Bravo, a spokeswoman for HSBC. Last year, HSBC agreed to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case. Argentina laid out its case against HSBC late on Monday. "On the basis of what's been investigated so far, in six months we've recorded 392 million pesos in fraudulent transactions, generated by evasion and money laundering," said Ricardo Echegaray, head of Argentina's tax agency. Mr Echegaray added that HSBC also helped clients evade taxes on an additional 224m pesos. "We hope to recover what is due and see the courts apply an appropriate penalty," he said. More: http://www.bbc.co.uk/news/business-21840052
  15. Hi all, I have read up on some threads about fare evasion in general and felt that it would be useful if some experts could advise me on my specific case. So to lay it out - my girlfriend graduated last year and has been jobhunting for a while. She obtained a temporary job which required regular travel and i thought I could let her use my student oyster (she paid for travelcards herself). I personally used a PAYG oyster as I prefer to walk/cycle when the weather is nice and only tube when the weather is horrible. Obviously, she was caught at the station with my card and was informed that we would receive a letter from TfL soon and face prosecution having signed a statement of some sort. We realise now how stupid it was and would never do it again - a criminal record for a new graduate in the current climate would really ruin our lives. I should mention that this is a first time offence if it's not obvious. As i understand, we should soon be receiving a letter for TfL and a court summons shortly after. I intend on writing to the prosecution manager as soon as possible with an apology and hope that TfL will not continue with the prosecution (it's in my opinion that the prosecution would probably be successful. It's hard to deny that she was using my student card when it is linked to her bank account payments, as well as regular travel) Could you give me any advice on how to proceed? Specific advice on how to write the letter and what to include would be really much appreciated - what would construed as "exceptional circumstances" (referring to tfl.gov.uk/assets/downloads/revenue-enforcement-and-prosecutions-policy.pdf, section 8.3(e)? Any advice I would be incredibly grateful for. EDIT: Edit with details of questioning by the inspector: She was taken aside by the ticket inspector and was asked to show a valid ticket - she showed my card She was asked who's card it was - answered that it was mine and admitted that she had been using my card She was cautioned about upcoming questions Ticket Inspector asked questions, noting down questions and responses as follows: Do you realise you're not supposed to use someone's card? Yes - realised, but didn't realise seriousness of consequences Do you know it's an offence not to have a valid ticket? Yes What was your previous card for travel? Student Oyster card and recently graduated Do you have another card to use? No How long have you been using the card? November but unsure. Asked again who's card it was and reason for having it - boyfriend's card and used it because he began to cycle What is your occupation? Temporary work having recently graduated I'm not sure if this can help in any way but I thought the additional information may be useful to get a better idea of the situation.
  16. At least 1,400 soldiers have received unfair sanctions, including dismissal and missed promotion, because the Army spent several years wrongly disciplining anyone who received a police caution. Minutes and briefing notes from two Army Justice Board meetings show that the Adjutant-General, the Army’s most senior personnel officer, knew as early as 2011 of the problem, which is related to changes in the law on rehabilitating offenders. It is unclear, however, whether those affected by the mistake have been informed that potentially career-ending penalties should not have been enforced against them. One senior army officer told The Times that compensating for the error could cost millions of pounds and that the damage to soldiers’ careers would be irreparable. “The Army has unlawfully taken action in 1,400 cases, including dismissing soldiers — and they are covering it up,” the officer claimed. http://www.thetimes.co.uk/tto/news/uk/defence/article3649756.ece Full article; http://www.arrse.co.uk/current-affairs-news-analysis/192588-times-army-faces-huge-bill-victims-rough-justice.html
  17. Wonga, the online loans company, is facing questions about whether its checks to prevent children from borrowing cash are adequate following evidence that it has allowed under 18s to build up debts. It is the high-interest loans company which came from nowhere to become one of the fastest growing finance firms in Britain. Wonga has faced widespread criticism over its interest rates, allegedly heavy-handed debt collection methods and, most recently, its £24 million shirt sponsorship deal Newcastle United football club, which some say will tempt impressionable young fans to get into debt. Now Wonga.com is facing new concerns over evidence it has allowed children to borrow cash, getting themselves, their family, and friends into debt, because its checks to prevent them applying are an inadequate. Under-18s are banned from taking out loans with the firm, and Wonga dismisses it as "fraud", but a Sunday Telegraph investigation suggests that young people are finding ways to convince Wonga’s "automated, real-time risk and decision system" that they are eligible for its 4,214 per cent APR loans. More: http://www.telegraph.co.uk/finance/personalfinance/borrowing/loans/9606570/Wonga-faces-questions-over-borrowing-by-children.html
  18. Royal Bank of Scotland (RBS) will on Friday outline a financial hit of about £300m from its role in the industry's spate of mis-selling scandals and the IT meltdown which left millions of customers unable to access their money. I have learned that RBS will say in its half-year results that it is increasing its provision for compensating customers who bought payment protection insurance (PPI) from the bank by about £130m. That increase will take the total impact of the scandal to date for the state-backed lender to close to £1.2bn. Unlike some rivals, however, RBS will not make a significant provision for compensating the victims of interest rate swaps mis-selling. Bankers tell me that RBS will set aside just under £50m for that, versus a much larger sum of £450m announced last week by Barclays. Insiders said that the discrepancy - given that RBS also had a big share of that market - was due to differences in the way the banks were deciding to account for the potential cost of providing redress to customers. The more interesting figure in RBS' numbers will relate to the cost of its IT meltdown in June. I'm told that the bank, which is 82% owned by the taxpayer, will say it is setting aside about £125m to compensate customers and improve its IT systems. The Financial Times has reported that Cabinet ministers are discussing the possibility of fully nationalising RBS. Insiders dismissed the prospect of such an event taking place. RBS declined to comment. Link; http://news.sky.com/story/968099/exclusive-rbs-faces-300m-hit
  19. Barclays chairman Marcus Agius will tomorrow be quizzed about how the scandal-hit bank intends to clean up its act in the wake of the interest rate-fixing revelations that forced chief executive Bob Diamond to quit. Agius, who has also resigned but is staying on until a new chief executive and chairman have been found, is due to be grilled by MPs on the Treasury Select Committee. This weekend he revealed his shock at the scale of public anger that has dogged the bank after it was fined £290m for its role in fixing Libor, a key benchmark used to set interest rates for a raft of financial products. Read more: http://www.dailymail.co.uk/money/news/article-2170571/Barclays-ex-boss-Marcus-Agius-faces-showdown-MPs.html#ixzz204s1ebb1
  20. RBS boss Stephen Hester says he will not take a bonus in the wake of the scandal. RBS admit guilt of offences similar to those committed by Barclays' traders The bank is thought to have accepted that it will probably have to pay about half as much as the £291 million in fines imposed on Barclays Royal Bank of Scotland is set to be fined about £150million for participating in market manipulation offences similar to those engaged in by Barclays, it has been revealed. Sources said RBS has admitted guilt of offences similar to those committed by Barclays' traders, though at RBS they were more isolated and less serious. And today, as more revelations trickled out about the unfolding scandal, the bank's chief executive Stephen Hester said he will not take a bonus this year following problems experienced by the company’s NatWest bank. Read more: http://www.dailymail.co.uk/news/article-2166620/Royal-Bank-Scotland-faces-150m-fine-manipulating-rates-sacked-trader-accuses-bosses-colluding-staff-rig-markets.html#ixzz1zHTSOg6n
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