HBOS trio could face City bans

Three former HBOS directors blamed for the banking group's collapse in a damning report may be banned for life as company directors. Business Secretary Vince Cable has ordered a probe to see if enough evidence can disqualify the trio.

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'Colossal failures' at HBOS and regulator

Andrew Tyrie MP, chair of the Parliamentary Commission on Banking Standards, issued a withering attack on former HBOS executives, and banking regulator the Financial Services Authority (FSA).

In a blistering report cataloguing the "catastrophic failures" of management, Mr Tyrie said the taxpayers are still paying for the mistakes of individual bankers who walked away with huge sums of money, and called on the government to address "bonus culture."

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