U.K. Bank Boards Need to Oversee Info Technology, Lawmaker Says

  • More investment needed to reduce payment-system failures
  • Regulatory group overseeing cybersecurity should be created

British banks Barclays Plc, HSBC Holdings Plc and Royal Bank of Scotland Group Plc need more information-technology experts on their boards after a series of computer-system failures in the past year left customers cut off from their accounts, according to Treasury Committee Chairman Andrew Tyrie.

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