FSA Fines and Bans Bank Executive for Role in HBOS' Collapse, J...

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Banished: The U.K.'s Financial Services Authority has banned former head of corporate lending at HBOS Peter Cummings from working in the country's financial services industry for his role in the bank's collapse during the 2008 financial crisis. Cummings was also fined £500,000 ($805,000), which the Journal notes is "the highest fine imposed by the FSA on a senior executive for management failings." The FSA imposed the penalties because it believes Cummings "pursued...