“Federal authorities in the U.S. are investigating Royal Bank of Scotland for possible breaches of Iran sanctions in a probe that has already led to the departure of a senior risk manager.
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Getty Images
The Royal Bank of Scotland Headquarters
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The U.K. bank [RBS 7.46 
0.01 (+0.13%) 
] is being probed by the Federal Reserve(explain this) and Department of Justice after volunteering information to them and U.K. regulators about 18 months ago, several people close to the situation said.
The bank uncovered the alleged failings after Chief Executive Stephen Hester initiated an internal review not long after his arrival three years ago.”
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