RBS News
Whiteaway Laidlaw acquires Link Loans
Mortgage and savings provider, Whiteaway Laidlaw Bank (WLB) is reported to have acquired secured loan specialist, Link Loans. WLB was itself acquired by the Special Opportunities Fund of RBS Equity Finance in January, having previously been an offshoot of Manchester … Read more
RBS to bolster investment banking division
Royal Bank of Scotland (RBS) is planning to bolster its investment banking division with new hires, The Daily Telegraph has reported. According to the newspaper, the majority taxpayer-owned bank has handed out mandates to recruitment firms and City headhunters to … Read more
RBS posts £794m H1 loss
Royal Bank of Scotland has reported a pre-tax loss of £794 million for the six months to the end of June 2011, compared with a profit of over £1.1 billion in the same period of 2010. The result takes account … Read more
Fed raps RBS over risk management and compliance
The US Federal Reserve Board has issued a “cease and desist order” to Royal Bank of Scotland Group and its branches in New York and Connecticut. The order requires the bank to improve oversight of its US operations, with particular … Read more
RBS aircraft leasing unit up for sale
Royal Bank of Scotland (RBS) has cleared the sale of RBS Aviation Capital, its aircraft leasing and financing subsidiary. The business employs 90 staff across offices in Dublin, London, New York, Hong Kong, Shanghai, Toulouse, Beijing, Singapore and Tokyo. It … Read more
RBS’s credit union lawsuits total $1.5bn
The US National Credit Union Administration (NCUA) has this week filed another lawsuit against RBS Securities, alleging violations of federal and state securities laws and misrepresentations in the sale of securities to the failed Western Corporate Federal Credit Union. The … Read more
FSA extends scope of RBS inquiry
The Financial Services Authority (FSA) would appear to have extended the scope of its investigations into the near collapse of Royal Bank of Scotland (RBS). According to a report in The Guardian, the regulator is including the group’s acquisition in … Read more
Banks launch SME mentoring scheme
The UK’s five-largest High Street banks have launched a mentoring scheme for small and medium-sized enterprises. Set up by Barclays, HSBC, RBS, Lloyds and Santander, the scheme will offer support on a range of issues, from finance to marketing and … Read more
US credit union regulator sues RBS Securities
RBS Securities and J.P.Morgan Securities are being sued by the regulator of credit unions in the US, which alleges that the firms violated federal and state securities laws, having misrepresented the sale mortgage-backed securities. The National Credit Union Administration (NCUA) … Read more
RBS appoints receiver for Marriott-operated hotels
Royal Bank of Scotland is reported to have appointed Ernst & Young as receiver for a portfolio of 42 Marriott-operated hotels across the UK. According to The Irish Times, private equity firm, Quinlan Private, acquired the portfolio in 2007 in … Read more
Fairbanking Foundation awards first accreditations
The Fairbanking Foundation has granted only four of its new accreditations to banks and building societies. The research charity is dedicated to helping banks improve the financial wellbeing of their customers, and in following its mission it assesses products to … Read more