RBS and Lloyds under FSA interest rate investigation

Barclays was hit with £290m in fines by financial regulators in the UK and the US after admitting its action "fell well short of standards", the BBC reports. The FSA said its investigations into other banks were "ongoing" and from early signs Barclays was not the only bank involved. The report said Barclays traders lied to make the bank look more secure during the financial crisis and sometimes, working with traders at other banks, to make a profit. Tracey McDermott, director of enforcement at the FSA, which imposed fines alongside the US financial regulator, told the BBC: "We ha...