‘Very concerned’: City watchdog scolds motor finance lenders over £9bn redress scheme June 22, 2026 The City watchdog has warned motor finance lenders it is “very concerned” with how prepared the industry is to implement its £9bn redress scheme, City AM can reveal. The Financial Conduct Authority (FCA) fired out letters to over 100 firms last Friday following a review of the sector’s plans to implement its under-fire redress program. [...]
Motor finance revs up City watchdog’s PR spend June 22, 2026 The motor finance scandal has helped rev up the financial watchdog’s spend on public relations agencies as it fought to warn consumers of the risks of using claims management firms. The car mis-selling saga – where City banks have been put on the hook for billions in compensation over the use of ‘secret’ car deals [...]
Banks woo the wealthy to ace stable income streams June 17, 2026 As the great and the good prepare to gather at Wimbledon, banks are serving up glamorous treatment to woo the wealthy. In this week’s column Samuel Norman looks at the players looking to call game, set, match. If you want the Centre Court treatment from your bank, you’re going to need to arrive with a [...]
Barclays pays £180m for loss-making UK fintech Gohenry June 12, 2026 Barclays has snapped up the UK arm of money management app Gohenry in a bid to “turbocharge” its ambitions for youth banking and the mass affluent market. The blue-chip lender revealed on Friday it had bought the fintech firm from its parent company, Acorns, for an undisclosed sum in a deal that is expected to [...]
From mild to wild: What impact will AI have on banking jobs? June 10, 2026 Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
Soaring petrol prices and Devil Wears Prada 2 help consumer spending return to growth June 9, 2026 Soaring fuel prices and box office hits helped consumer spending return to growth in May, according to fresh data from Barclays. Consumer card spending was up 0.8 per cent year-on-year last month, following a 0.1 per cent dip in April. The rise came as essential spending jumped 0.7 per cent, led by a near 12 [...]
‘Why single out banks?’: Santander chief hits out at UK tax regime June 8, 2026 The boss of Santander has branded the UK’s tax regime on banks as making “no economic sense” as speculation mounts that the industry could be turned to for a quick cash grab if the Labour government lurches to the left. Ana Botín, the chief executive of the Spanish banking giant, has said the UK tax [...]
Natwest to pump £50m into branches after shuttering over a thousand June 5, 2026 Natwest is planning to beef up its branch network after being one of the leading banks to take the axe to its physical presence over the last decade. The blue-chip banking giant will pump £50m into its network over the next 18 months and has pledged not to close any branches until at least 2029. [...]
UK has ‘lost control’ of its international narrative, says Barclays June 2, 2026 Barclays has laid bare the investment barriers facing the UK in a new report that states the nation has “lost control of its international narrative” leading to an impact on foreign capital. The banking giant has called for a drastic shake-up of how the UK attracts international capital, following its share narrowing to seven per [...]
Natwest and Barclays sweeten mortgage costs as Iran peace hopes ease interest rate fears May 29, 2026 Natwest and Barclays have become the latest lenders to sweeten up their mortgage deals, as hopes remain high that a peace deal will be reached in the Middle East that would bring calm to the interest rate environment. Both lenders have unveiled reductions in mortgage rates, with Barclays cutting its rates across the board by [...]