Lloyds Bank urged to release full HBOS review Banking Lloyds Banking Group has been told it must publish a “full copy” of the long-delayed report into the mishandling of the HBOS Reading scandal. Dame Meg Hillier, who chairs the Treasury Committee, has backed campaigners’ calls for Lloyds to be transparent in private correspondence obtained by The Times. This follows Lloyds’ pledge to “fulfil any [...]
Rachel Reeves ‘investigated over expenses’ in HBOS banking job Politics Rachel Reeves was investigated over her use of expenses while working in a banking job before becoming an MP. The Chancellor, alongside two colleagues, was subject to an internal probe into expenses claims, while she was a senior manager at Halifax Bank of Scotland (HBOS) in the late 2000s, the BBC has revealed. Reeves is [...]
Another Post Office? HBOS Reading fraud scandal report delayed yet again BANKING A report into who knew what, and when, about the HBOS Reading fraud has been delayed again
HBOS: Authorities close six year probe into former execs August 27, 2022 HBOS’s former executives are now off the hook after the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) closed a six year investigation into the bank’s collapse. The watchdogs announced yesterday they would not take any further action. “In line with standard practice, the authorities’ independent decision-makers reviewed the matters under investigation and [...]
‘Extraordinary’: Former police chief slams Antonio Horta-Osorio’s knighthood June 14, 2021 Anthony Stansfeld, the ex-police commissioner who oversaw the investigation into the HBOS Reading fraud, has described Antonio Horta-Osorio’s knighthood as “extraordinary”. “There are a great many companies that have been destroyed, and countless lives destroyed by the actions of Lloyds Bank while under his executive control,” Stansfeld said. Ex-Lloyds Banking Group chief executive Horta-Osorio, who [...]
Bank of Scotland fined £45m for failing to report HBOS fraud June 21, 2019 Bank of Scotland has been hit with a £45.5m fine for failing to report suspicions of fraud at its Reading branch. The Financial Conduct Authority (FCA) said there was “insufficient challenge, scrutiny or inquiry across the organisation and from top to bottom”. Read more: Lloyds bank avoids shareholder revolt over pension pay The bank identified [...]
Former high court judge to review Lloyds’ compensation payouts to HBOS fraud victims May 3, 2019 Lloyds Bank has launched an independent review of its HBOS victims compensation scheme. The bank has appointed former high court judge Ross Cranston to assess the outcome of the recently completed customer review, which has handed out more than £96m in compensation to victims of the HBOS Reading fraud. Read more: Former Hbos chief executive [...]
Former Hbos chief executive set to take top job at The Restaurant Group May 1, 2019 The former chief executive of Hbos is set to be appointed chief executive at Wagamama-owner The Restaurant Group. Sky News reported that Andy Hornby had been given the job with his role expected to be announced as soon as tomorrow. Read more: The Restaurant Group profits fall as like-for-like sales slip Hornby has reportedly resigned [...]
Exclusive: Lawyers who took on Lloyds and Tesco launch new funder-backed firm April 29, 2019 A group of lawyers who are taking on Lloyds Banking Group and Tesco in multi-million pound group actions have launched a new firm backed by a heavyweight litigation funder. The new firm – Harcus Parker – is a breakaway from London firm Harcus Sinclair led by its head of litigation Damon Parker. The firm has [...]
Audit watchdog ‘whitewashed’ my HBOS evidence, says whistleblower February 6, 2019 The UK audit watchdog has been accused of brushing-off a whistleblower who claimed HBOS had understated loan-loss provisions in its 2007 accounts. An MP described the handling of the case as “astounding”. Rob Kennedy, a former employee in the lender’s corporate division, was part of the team that worked directly to calculate the provision and [...]