This was partly as a result of provisions made for compensation to customers who were mis-sold Payment Protection Insurance (PPI) and personal loans.
Banks in Britain gave up their legal challenge to claims they had mis-sold payment-protection insurance (covering sickness and unemployment) on credit cards and mortgages, and agreed to pay compensation to customers.
He warned that they had the powers to levy fines or close firms down and already he was examining the past sales of some companies who may have to pay compensation to customers.
BBC: NEWS | Programmes | Moneybox | Unlocked pensions poverty trap
For full compensation, customers will have to show that they would not have bought an IRHP, had the sales rules not been broken.
In such cases, always extract meaningful compensation from these Pilot customers to offset your costs and to increase the likelihood that the Pilot user will convert to a paying customer.
It is also offering compensation of differing amounts to UK and Canada-based customers who had pre-ordered the tablet before its 26 October launch expecting to receive it on Friday, only to be disappointed.
The office said it had received lots of queries about compensation from customers within the RBS group and its role was to "look at the facts, ask questions and decide what's fair in each case".
If broker-dealers are stuck with losses even after Nasdaq's compensation is paid out, that could impact the prices that they provide to retail customers, Mr. Nagy said.
The compensation the asset manager receives for managing IRA assets should be comparable to the compensation for managing assets of similar balances for all the managers other customers.
Today Salesforce will partner with other vendors (CyberU, Vana, Blackboard, Workday, and just about anyone else who wants to use the Force.com platform) to help its customers implement other applications like recruiting, training, compensation management, etc.
Under instruction from the financial authorities, the industry is now going back through past sales and alerting customers to the possibility that they can now make a claim for compensation - a process which is generating a huge bill for the UK's banks.
Nasdaq wants customers to waive their right to sue the company as part of a compensation agreement.
All that mis-selling and all that reckless lending in the boom years that hobbled the economy seems to have so undermined the trust and respect of banks' customers that few seem to think twice before putting in a flimsy demand for compensation.
The balance sheet between public customers and the securities industry is still lopsided in favor of the latter when it comes to compensation for fraud.
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