All the major U.K. banks, including HSBC (HBC), Barclays (NYSE:BCS), Lloyds (NYSE:LYG) and RBS...

All the major U.K. banks, including HSBC (HBC), Barclays (NYSE:BCS), Lloyds (NYSE:LYG) and RBS (NYSE:RBS), are facing legal action that could result in billions of pounds of damage payments, according to a report in The Sunday Telegraph, with small and medium-sized businesses claiming the banks profited at their expense by pushing them to buy complex interest rate derivatives.