More UK banks to pay out in new mis-selling scandal
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More UK banks to pay out in new mis-selling scandal

www.reuters.com   | 23.07.2012.

LONDON (Reuters) - Britain's financial regulator said a further seven banks have agreed to compensate customers they misled about interest rate hedging products and review their sales practices.
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The Financial Services Authority said it had reached an agreement with Allied Irish Bank (UK) (ALBK.I), Bank of Ireland (BKIR.I), Clydesdale and Yorkshire banks (NAB.AX), the Co-operative Bank, Northern Bank and Santander UK (SAN.MC).

The FSA said in June that Britain's four biggest banks - Barclays (BARC.L), HSBC (HSBA.L), Lloyds (LLOY.L) and RBS (RBS.L) - had agreed to pay compensation following an investigation into mis-selling of the products.

(Reporting by Matt Scuffham)


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