Curve and Plaid team up to bring open banking to UK customers December 16, 2020 Curve, a smart banking platform, has joined forces with Plaid, an open finance data network, to help people manage their money.
Barclays fined £26m for mistreatment of customers in arrears December 15, 2020 The UK’s financial watchdog has fined Barclays £26m for failures in its treatment of customers who fell into financial difficulties. The Financial Conduct Authority (FCA) found that Barclays had mistreated some retail and small business customers who fell into arrears between April 2014 and December 2018. Read more: Parlez-vous Français? Paris’ finance sector gets ready [...]
EU banks losing appetite for exposure to Brexit Britain December 12, 2020 Banks in the European Union may be losing their appetite for exposure to Britain, the EU’s banking watchdog said yesterday. There are concerns in the bloc that a no-deal Brexit, which is looking increasingly likely, could disrupt financial markets. Britain will stop having full access to the EU after 31 December, and many banks in [...]
Lloyds pay black staff 20 per cent less than their white peers December 11, 2020 Lloyds Banking Group revealed that black staff at the company receive 20 per cent less pay than their colleagues.
Analysts call BoE’s move to allow dividend payouts ‘concerning’ December 11, 2020 Analysts are divided over the Bank of England’s decision to allow lenders to resume dividend payments to their shareholders. Yesterday, regulators gave the green light for banks to resume handouts after it was determined that banks were in a strong enough financial position to handle Covid and a possible no-deal Brexit. The announcement cheered banks [...]
Morgan Stanley: UK bank shares could fall 20 per cent in no-deal Brexit December 11, 2020 Morgan Stanley has said UK bank shares could tumble 10 to 20 per cent in a no-deal Brexit, with the FTSE 250 dropping as much as 10 per cent. It comes as the UK and EU struggle to sign a free-trade agreement. Prime Minister Boris Johnson yesterday said a no-deal Brexit outcome was now a [...]
Paypal-backed Tink raises €85m in latest funding round December 11, 2020 Tink, Europe's leading open banking platform, has received €85 million (£78m) during an investment round extension.
BoE gives lenders all-clear and extends zero capital buffer December 11, 2020 The Bank of England has said the UK’s lenders are strong enough to withstand an economic shock much worse than the one currently predicted, but extended the period in which banks can hold reduced capital buffers to try to encourage lending. Despite the all-clear, the Bank’s Financial Policy Committee (FPC) said that Brexit could cause [...]
Paris experiences modest Brexit influx as thousands of professionals relocate December 10, 2020 Since 2016, around 5,000 employees have relocated from London to Paris as a direct result of Brexit, a report finds.
UK Banks OK to restart dividend payments, PRA says December 10, 2020 The banking regulator has given lenders the go-ahead to restart dividend payments, saying it believes they are in a strong enough position to withstand a hit to the economy more severe than the current expectations. The Prudential Regulation Authority (PRA) lent on banks to stop paying out dividends in the spring. It said they should [...]