UK banks face 'billions more' in fines as BBA looks to future
As the lobbying organisation tries to focus on the future of retail, UK banks may still face more massive penalties for misdeeds before and during the financial crisis
UK banks could still see billions of pounds more in fines related to their US operations, warned speakers at the British Bankers' Association's annual retail conference today (June 18).
The theme of the conference was "Retail Banking in 2020" but, subsequent speakers warned, the UK industry was still far from clear of the after-effects of the 2008 financial crisis – and its misdeeds before and during it.
Michael Helsby, a research analyst covering European banks at Bank of America Merrill Lynch
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