Metro Bank Could Face MPs Over £900M Accounting Error

Law360, London (February 1, 2019, 3:25 PM GMT) -- Metro Bank PLC could face a parliamentary inquiry after the bank's boss misled markets about a £900 million ($1.2 billion) accounting error, the chairwoman of a top House of Commons committee said Friday.

MPs could launch an inquiry into the British bank after the lender published contradictory statements about the discovery of an error in which £900 million in loans was wrongly classified as lower-risk, which has caused Metro Bank’s share price to fall by more than 50 percent since Jan. 22.

"The events at Metro Bank are concerning. The Treasury Committee will keep a close eye on developments and may...

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