With costs to open rural bank branches prohibitive, tech companies look to turn payphones into virtual banks.

According to the Financial Times newspaper, four big European banks have joined Barclays in the not-so-prestigious club of financial institutions being investigated for rigging a benchmark lending rate called LIBOR.

In the face of a tough banking market and disappointing earnings, Goldman Sachs announced this week that it will build a private bank — joining the ranks of UBS and U.S. Trust and others — that will manage and lend money to very wealthy individuals and companies.

A congressional watchdog panel will be grilling executives from the British bank HSBC about — get this — money laundering, drugs and terrorist financing.

News this morning that Bob Diamond, the former head of Barclay's bank has given up $30 million in bonuses after resigning over that interest rate rigging scandal. And the scandal has brought up the issue — yet again — of whether current regulations on the financial industry are adequate.

The British Parliament has started investigating the ethics of London's financial center. This follows that big scandal involving the British bank Barclays, which was fined a half billion dollars for rigging a key interest rate called LIBOR.

Yesterday Bob Diamond resigned as CEO of Barclays Bank, and this hour he's sitting before a Parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.

Today the freshly resigned CEO of Barclays Bank goes before a parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.

The CEO of Barclays bank is out. Bob Diamond is leaving amid a scandal over banks colluding to fix the price of one of the most important interest rates in the world.

The CEO of Barclays Bank in London's is resigning — and, just this hour it looks like we can add the COO — the chief operating officer — as well. Last week the bank settled with U.S. and European regulators over allegations it manipulated the "Libor" interest rates to its own advantage.