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UK's biggest banks face further $29 bln misconduct bill - S&P
Britain's biggest banks face another 19 billion pounds ($29 billion) of charges relating to past misconduct over the next two years, ratings agency Standard & Poor's (S&P) said in a report on Monday. S&P said Britain's banks and customer-owned lenders had incurred 48 billion pounds in misconduct and litigation charges over the past five years. Britain's four biggest banks -- Barclays, HSBC , Lloyds Banking Group and Royal Bank of Scotland -- accounted for 42 billion of that total, equivalent to about 7.5 percent of their revenues, S&P said. S&P said the mis-selling of payment protection insurance (PPI) on loans and ... (full story)