Page 46 - Flip Banks TG

For Barclays these all added to serious tarnishing of the

banks image and in the case of the Qatari loan the

investigation, which has been underway since August 2012

has finally led to criminal charges of fraud, the first levied

against a high street UK bank and former senior

management for activities during the financial crisis.

If found guilty, Barclays will face further fines and a further

tarnishing of its battered reputation.

It should however be kept in mind that these charges, from

LIBOR to Mortgage Backed Loans, are historic in terms of

the strategic leadership at Barclays. Jenkins was employed

to basically clean up the mess and Staley has continued that

policy though falling foul with his ‘whistleblower’ faux pas.

However, as concern grows over a potential consumer credit

bubble, Staley said the bank was “keeping an eye on

underwriting standards” at its credit card business.