The city watchdog, the Financial Services Authority (FSA) has found the Bank of Scotland guilty of serious misconduct in the way it lent money to businesses between 2006 and 2008. The FSA said the bank pursued "an aggressive growth strategy" that focused on high risk lending. That policy contributed to the bank having to be bailed out by UK taxpayer, said the FSA. The bank has escaped paying a substantial fine. The FSA said imposing a fine would have meant the taxpayer effectively paying twice "for the same actions committed by the firm". Instead it has decided to issue a public censure "to ensure details of the firm's misconduct can be viewed by all and act as a lesson in risk management failings"....Read more HERE