investment banks

Spanish banking giant Santander has seen its profits tumble by more than 90% in the third quarter after bad property loans in Spain battered its books.

US investment banking giant Bank of America has been hit with a $1bn (£624m) lawsuit from the government over allegations it fraudulently issued "toxic" loans.

The Royal Bank of Scotland (RBS) has exited the government's Asset Protection Scheme designed to insure against toxic assets.

RBS has suspended a trader for trying to rig the Singapore dollar swap offer rate, according to reports, in the latest case of interest rate benchmark manipulation.

Barclays has restructured its investment banking arm in an effort to cut costs and limit further reputational damage following the LIBOR scandal.

Former Federal Reserve chairman Paul Volcker has hit out against plans to ring-fence UK banks, warning they will not be enough to protect British taxpayers from another financial crisis.

Citigroup is to pay out $590m to shareholders in one of the biggest settlements connected to the global financial crisis, after it was accused of hiding its subprime exposure during the 2008 crash.

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Standard Chartered could face up to $700m in fines if found guilty of allegations it helped Iranian clients conduct money laundering.