Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.
Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan moved to reassure employees that there will be “no big announcement” on job cuts when the lender publishes the results of its strategic review next week.
Royal Bank of Scotland Group Plc, Britain’s biggest taxpayer-owned lender, apologized for a technical fault that left customers unable to access accounts and offered to compensate those who have lost money.
Royal Bank of Scotland Group Plc investors should oppose the firm’s annual report and accounts because the lender may not be valuing its assets correctly, the U.K. Local Authority Pension Fund Forum said.
Mitsubishi UFJ Financial Group Inc. may buy project-finance assets from Royal Bank of Scotland Group Plc as Japan’s largest banks start deploying the $56 billion they’ve raised in share sales in the past two years.
Royal Bank of Scotland Group Plc Chairman Philip Hampton said former directors failed in their fiduciary duty by not scrutinizing the bank’s purchase of ABN Amro Holding NV, the Guardian reported, citing a U.S. embassy cable published by WikiLeaks.