Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Bank charges: RBS awaits decision on Libor fines

Royal Bank of Scotland (RBS) will today find out US regulators' decision on its involvement in the Libor rigging scandal. It is expected that the bank will be fined up to £500 million.

The government owns over 80 per cent of the bank, meaning that if the bank is fined then the taxpayer may have to cover a large amount of the cost.

Business secretary Vince Cable said in an interview with the BBC that he has told RBS that it should pay for its fines out of banker bonuses as he thinks it is unfair for its customers and taxpayers to have to cover it.

However, he also said that he cannot make RBS follow this instruction.

It is alleged that RBS worked with other banks to rig Libor during the financial crisis. This is the benchmark rate used to measure financial deals between banks and to their customers, which banks had been found to have manipulated for profit.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801535628-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide