In the aftermath of the Barclays scandal, United States and British Lawmakers are cracking down on regulators that should have been more proactive and dedicated in preventing the years of illegal banking behaviors. The Dealbook.com article said that the Barclays $450 million settlement is but the first action from this broad and far-reaching investigation.
The article lists some of the many players in this cross-Atlantic investigation. They are including the House Financial Services Committee, the Senate Banking Committee, the Commodities Futures Trading Commission, the Justice Department and the New York Fed, to name a few of the American organizations. In the UK, the Parliamentary Committee as well as the Financial Services Authority of Britain are very active in the investigation.