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Royal Bank Of Scotland Takes Another $5 Billion Charge

wochit business
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January 27, 2014 AT 3:29 PM
Hopes for a turnaround in Royal Bank of Scotland, the nationalized U.K. bank, took a hit Monday when the lender said it set aside 3 billion pounds (or $5 billion) more to cover U.S. legal costs and customer compensation claims in Britain. The bank, which is 80 percent owned by the taxpayer, announced the decision in a statement issued a month ahead of its full year results.