RBS Says It Canned Employees Over Libor-Rigging Scandal

Law360, New York (August 3, 2012, 2:25 PM EDT) -- Royal Bank of Scotland PLC said it has canned several employees for misconduct stemming from the alleged rigging of Libor, while Bank of America Corp. revealed that it has been subpoenaed by U.S. and U.K. regulators over its alleged role in the scandal.

In a half-year financial report issued Friday, RBS said it has dismissed a number of employees as a result of an investigation into setting of Libor and other interest rates. The British bank said it continues to be investigated by the U.S. Department...
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