In addition, from March to August 2014, Barclays processed 1,723 fund transactions that did not meet its clients` objectives, risk tolerance or other investments, resulting in an additional 818,000 $US in customer harm. As a result, Barclays had to pay $US 10 million in repayment, including interest, to the affected customers and was fined $US 3.75 million, but did not admit or deny fault. [170] Barclays goes back to the goldsmith business founded in 1690 in the City of London. [4] James Barclay became a partner in the company in 1736. In 1896, several banks in London and the English provinces, including Goslings Bank, Backhouse`s Bank and Gurney`s Bank, merged under the name Barclays and Co. In the following decades, Barclays was a national bank. .