Co-operative Bank could face fines from regulators
by Jill Treanor from on (#C6KW)
Bank reveals it will start talks with FCA and Bank of England in July over scale of fines and punishment
The scandal which enveloped the Co-operative Bank was reawakened on Tuesday when the bank revealed it was facing fines from City regulators over the events that led to its near collapse two years ago.
The bank is now just 20% owned by the Co-operative Group of supermarkets and funeral homes after an emergency fundraising was required to plug a 1.5bn shortfall uncovered in 2013. Control passed to hedge funds and other private investors after the rescue.
Related: The Co-operative Bank's timeline of troubles
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