British Banking Crisis Imperils Scottish Foundation’s Giving
October 15, 2009
One of Scotland’s biggest donors is suspending new giving as a result of the British banking crisis, the BBC reports.
The move by the Scotland arm of the Lloyds TSB Foundation, which is supported by the Lloyds Banking Group’s profits, could cost Scottish charities some $9.6-million a year. The foundation said it will meet existing commitments but amid uncertainty about the struggling bank’s future, it would suspend new grants.
