Provider: Zacks Investment Research Inc.
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Royal Bank of Scotland Group PLC Braced For Up To $800 Million Libor Fines-Reuters
Reuters reported that Royal Bank of Scotland Group PLC is braced for fines of between GBP400 million and GBP500 million ($803 million) for its role in an interest rate rigging scandal. The partly state-owned bank is expected to agree a settlement with authorities in Britain and the United States next week and will be hit with a worse punishment than rival Barclays, which was fined $450 million last June.
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