Tidgy

http://www.bbc.co.uk/news/business-20973130

so massive fines, but where does that fine money go?

I know the payouts to customers for compensation are on top of the fines, so doesn't got to the customers who have suffered.

Leslie

I imagine it will go to the place where most fines go-to the government.

Les

TelBoy

The fines are paid to the Financial Services Authority, and therefore to the Government. Which is quite an ironic little circle in the case of RBS. Private litigation from companies and even individuals who think they can prove they were disadvantaged could (and probably will) follow. A right old mess, by any other words.

Matteeboy

It should be distributed directly to the public seeing as that's who has suffered.

It would be a decent amount each.

I think the term "bank expert" is now an oxymoron.

Tidgy

lol, well with fines totaling billions a year, seemingly could be chucked straight bad to reduce national debt instead of squandered away.

jonc

The fines are meaningless, all it does is reduce the fees the bank pays to the FSA the following year.

Tidgy

eh? how does that work?

TelBoy

Or b) you owe money because your mortgage rate would have been higher.

It's very hard to quantify individual losses or gains. Doesn't make it right i know. I'd consider myself an expert in certain aspects of banking still, but your opinion is fairly widespread because the majority of the public believe (or want to believe) we were all complicit in some way.