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Friday, June 29, 2012

''Barclays faces fresh scandal over interest rate swaps''

From The Independent


''Barclays is set to be dragged into a fresh banking scandal this morning as the City watchdog prepares to reveal the results of an inquiry into mis-selling of loans to small businesses.

With the bank already reeling from the impact of £290m in fines over its attempts to fix Libor interest rates, the Financial Services Authority's findings could not come at a worse time for the business and its increasingly embattled chief executive, Bob Diamond.

The inquiry covers sales of interest rate swaps to small business customers taking out loans.''

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