Simon English: Banks are snowed under by American complaints

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The Independent Online

Outlook A note of sympathy for the banks, so turn over now if that is likely to offend. The number of regulators, wannabe regulators, grandstanding politicians and lawsuit-happy gunslingers that they have to deal with in America is plainly absurd.

Each day brings a new complaint, fresh demands for fines and compensation, or else. This is partly just a reflection of how business gets done in America; folk sue each other in the morning, then meet for golf in the afternoon. But it must also be a strain for banks trying to resolve historical issues so they can get on with life. Do they know who to talk to first? If they settle with one watchdog, does that mean the others will expect higher fines?