The Co-operative Bank has been spared a £120 million fine for
failings that nearly caused it to collapse.
An investigation
uncovered "serious and widespread failings" in the way
the lender was run between 2009 and 2013.
The Prudential Regulation Authority (PRA) and the Financial Conduct
Authority (FCA) censured the bank, but stopped short of forcing it to pay a
fine.
The PRA said the way the lender assessed risk was flawed, and there were
problems with keeping the board informed on key issues about the
business. Mirror.
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