Interest rate swap mis-selling scandal

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Nine banks including Lloyds, RBS and HSBC agreed in 2013 to compensate companies that were sold inappropriate products that were supposed to protect them from changing interest rates on their debts. However, these hedges could expose the firm to the risk of rate movements even after their initial loan had been repaid.

Telegraph article

See also

• Greenclose v National Westminster Bank plc
• LIBOR rigging
• email
• electronic messaging system