A Bad Day For The Royal Bank Of Scotland

RBS, the Royal Bank of Scotland, is already in a tough spot. It's among several banks being investigated for allegedly rigging the interbank lending rate known as LIBOR. As Steve Inskeep reports, Friday it warned that it faced several potential lawsuits over those allegations.

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STEVE INSKEEP, HOST:

A bad day at RBS is at the top of NPR's business news.

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INSKEEP: RBS is the Royal Bank of Scotland and it's already in a tough spot. It's among several banks being investigated for allegedly rigging the interbank lending rate. Today, RBS warned that it faces several potential lawsuits over those allegations. RBS did that as it announced its second quarter profit fell 22 percent. The partly nationalized bank is out about $3 billion for the first half of the year.

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