barclays insurance scandal Archives

Insurance news from Barclay’s scandal increases total to $4.1 billion

February 8, 2013April 30, 2013

The mis-selling scam from the bank has experienced yet another massive charge. Barclays Bank PLC is making insurance news yet again with another massive mis-selling charge, adding to a long list of others that have been reported by Insurance News Report over the last few months. The British bank is continually hounded by new discoveries of scandalous selling practices. Authorities in the United Kingdom have been investigating the fundraising that the bank has received from Qatar during the worst of the crisis in 2008. The investigations have been ongoing since…

Barclays sets aside funds to deal with insurance news controversy

October 22, 2012October 21, 2012 S.Vagus

Barclays continually caught in scandal Major British bank Barclays has announced that it will be setting aside approximately $1.1 billion in funds to mitigate the financial impact of its inappropriate sale of insurance to consumers. Earlier this year, Barclays was steeped in a rate-rigging scandal that damaged the company’s reputation. In the wake of this insurance news scandal, the bank purchased nearly $1.7 billion worth of payment protection insurance for its employees. Now, the company is setting aside funds in case it receives more claims concerning inappropriate sales of insurance…