Auto finance industry could face £16bn in compensation payouts from FCA probe January 25, 2024 UK auto lenders could be hit by up to £16bn in compensation payments after the City watchdog confirmed its probe in historic commission arrangements would look at cases going back to 2007.
Banks lead UK firms in dividend payments after HSBC dishes out £8.4bn January 25, 2024 Banks led UK firms in dividend payments last year for the first time since the financial crisis, according to new research, on the back of interest rate hikes.
Bank of America sends ‘letters of education’ demanding workers return to office January 24, 2024 Bank of America (BofA) has sent “letters of education” to employees threatening disciplinary action if they do not come into the office, joining its Wall Street peers in pushing back against remote work trends.
What you need to know about China’s new bank rules — and why experts are calling for more stimulus January 24, 2024 Markets have been digesting the latest attempt by Chinese policymakers to inject some life into China's flatlining economy.
Colombian billionaire who rescued Metro Bank appoints himself to board January 24, 2024 Jaime Gilinski Bacal, the Colombian billionaire who led a major refinancing package for struggling Metro Bank, has appointed himself to its board as a non-executive director. As part of the deal struck between the lender and the banking tycoon last year, Bacal and his firm, Spaldy Investments, are entitled to appoint up to three directors [...]
City of London top financial centre in the world? Not without a listings revival January 24, 2024 The City of London, number one financial centre in the world. One can imagine that a Square Mile which has spent the past year worrying about US take-private raids, an almost total collapse in significant IPOs, and an ever-increasing tax burden would take that badge of honour with a pinch of salt. But that is [...]
Brace for the ‘techlash’ says FCA chief as he warns on future of financial services January 23, 2024 The chief of the Financial Conduct Authority (FCA) has said the UK's financial services may need to prepare for a "techlash".
‘A PR man for the banks’? Banking resolution service faces pressure from MPs January 23, 2024 A banking dispute resolution service has come under heavy scrutiny from MPs who, today questioned whether the organisation has been captured by the banks.
‘High Court or the high road’: MPs say future of banking dispute resolution is ‘uncertain’ for SMEs January 23, 2024 MPs have flagged potential "gaps" left behind for the Financial Ombudsman Service (FOS) to fill when the British Business Resolution Service (BBRS) compensation scheme closes.
Why Whatsapp fines and data fears are reviving the ‘work phone’ January 23, 2024 Regulators have been clamping down on Whatsapp use in financial services - now the work phone may be making a combeack.