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Lloyds sues RBS for £420m over ‘misleading’ rights issue

Image: BBC

By Ian Fraser Published: The Herald Date: 21 May 2014 In an unprecedented clash between two of the UK’s biggest banks, Lloyds Banking Group is suing government owned Royal Bank of Scotland over its “misleading” £12 billion rights issue. In what is seen as the first American-style class action to hit the English courts Lloyds – […]

May 21st, 2014 | Posted in Article Library | Read More »

Lloyds hopes, if it stonewalls long enough, customers BoS fleeced will give up or die

Lloyds-bank-logo

April 24th, 2014 Here is Nick Wallis and Laura Ansell’s first class investigative documentary for BBC South about Lloyds Banking Group’s despicable treatment of customers who allege they were cheated and swindled out of millions of pounds by HBOS, for which I was interviewed. Lloyds, led since March 2011 by chief executive António Horta-Osório, remains […]

April 24th, 2014 | Posted in Blog | Read More »

Chuka Umunna: PWC’s useful idiot?

Chuka Umunna - banking toady?

January 23rd, 2014 I’ve long wondered how committed the Labour shadow business secretary and MP for Streatham Chuka Umunna really is to UK banking reform. It seems the answer is “not very”. In the furore that followed the publication of the Tomlinson Report on November 25 last year, a report which (accurately, in my view) […]

January 23rd, 2014 | Posted in Blog | Read More »

Guest post: How Britain’s banks profit from distress

Bank logos. Image courtesy of Andy Hanselman

By James Nicholls October 23rd, 2013 Banks are in the business of making money – just like every other business – and they do this by providing bank accounts and lending money at a profit. So far so ordinary. They lend to individuals and businesses and most of the time this all goes well, in […]

October 23rd, 2013 | Posted in Blog | Read More »

The Parliamentary Review: Review of the Year in Finance

Image: William Banzai 7

By Ian Fraser Published: The Parliamentary Review Date: September 30th, 2013 The Libor scandal It was described as the banking industry’s ‘tobacco moment’. In June last year, Barclays was fined £290 million by US and UK regulators and judicial authorities after it admitted to systematically rigging the London Inter-Bank Offered Rate (Libor). Libor is the […]

September 30th, 2013 | Posted in Article Library | Read More »

Cummings–losing touch with reality?

Peter Cummings

December 15th, 2012 In his testimony to the Parliamentary Commission on Banking Standards taken, taken in private in his Dumbartonshire bungalow on November 27th, the former HBOS corporate chief executive Peter Cummings railed against the FSA and criticised his boardroom colleagues but seemed to be as much in denial as ever. There was no contrition, no […]

December 15th, 2012 | Posted in Blog | Read More »

HBOS whistleblower hits back at Crosby claims

Paul Moore

By Ian Fraser Published: Sunday Herald Date: December 9th, 2012 Paul Moore, the whistleblower whose evidence was key to last week’s hearings of the parliamentary commission on banking, has accused his former HBOS boss Sir James Crosby of “trying to rewrite history” about Moore’s sacking from the Edinburgh-based bank. In an interview with the Sunday Herald, Moore […]

December 11th, 2012 | Posted in Article Library | Read More »

Sir James Crosby, the ex HBOS boss, and the concept of mercy

HALIFAX/EQUITABLE LIFE

December 1st, 2012 In a comment piece in Saturday’s Times, financial editor Patrick Hosking gave ten reasons why the Parliamentary Commission on Banking Standards must show absolutely no mercy to the former HBOS chief executive James Crosby when he appears before it at 3.30pm on Monday afternoon. This is no time for faux deference, taking mendacious spin at face value, letting […]

December 1st, 2012 | Posted in Blog | Read More »

Sir Ron Garrick fiddled while HBOS burned

HBOS protests

November 26th, 2012 (updated November 27th 2012) [Note: if the video of the Parliamentary Commission on Banking Standards' cross-examination of Sir Charles Dunstone and Sir Ron Garrick starts to play, you need to scroll down to the bottom of this blog post to pause or mute it] It is not often that I am gob-smacked […]

November 26th, 2012 | Posted in Blog | Read More »

Written evidence to the Parliamentary Commission on Banking Standards

Portcullis logo

Parliamentary Commission on Banking Standards Submission from Ian Fraser, 24 August 2012 [Update: January 12, 2013. This is my submission to the Parliamentary Commission on Banking Standards, which is being chaired by Andrew Tyrie MP. Written in August 2012, it was published on the Parliamentary website [pdf 28mb] on December 19th, 2012 — it can be found on […]

September 21st, 2012 | Posted in Blog | Read More »

Fraser on Twitter

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