RBS 'due for £500m fine over Libor'

Press Association

Royal Bank of Scotland will reportedly face criminal charges and a £500 million fine for its alleged role in the Libor rate-rigging scandal this week.

The taxpayer-backed lender is likely to announce the settlement with the Financial Services Authority and American regulators on Wednesday, according to The Sunday Times, with the head of the group's investment bank, John Hourican, also expected to confirm his departure.