International Investing – the whys and wherefores February 11, 2019 | City Talk In 1926, engineer, inventor and philosopher Nicolas Tesla, said “”When wireless is perfectly applied the whole earth will be converted into a huge brain. We shall be able to communicate with one another instantly, irrespective of distance… and the instruments through which we shall be able to do his will be amazingly simple compared with [...]
Audit watchdog ‘whitewashed’ my HBOS evidence, says whistleblower February 6, 2019 The UK audit watchdog has been accused of brushing-off a whistleblower who claimed HBOS had understated loan-loss provisions in its 2007 accounts. An MP described the handling of the case as “astounding”. Rob Kennedy, a former employee in the lender’s corporate division, was part of the team that worked directly to calculate the provision and [...]
Noel Edmonds’ lawyer to take on Lloyds Banking Group over Bristol allegations February 6, 2019 Noel Edmonds’ lawyer Jonathan Coad is set to open a new front in his battle against Lloyds Banking Group. Coad tweeted today that he has been instructed by a “lady who is a victim of Lloyds Bristol”. Speaking to City A.M. Coad said: “I have spoken to a number of people who are victims of [...]
Lloyds unveils family mortgage offer to help millennials buy a home January 28, 2019 Llloyds Bank will allow first-time buyers to avoid saving for a deposit by allowing parent’s savings to be used in its place. The Lend a Hand mortgage, which is 100 per cent loan-to-value, launched today removes the need for a deposit which is instead provided using the savings of the buyer's family member who can [...]
Case alleging Libor-rigging launched against raft of major banks January 20, 2019 A string of major banks have been accused of rigging the Libor benchmark again, five years on from a major scandal. A class action has been filed in the US against banks such as the Royal Bank of Scotland, Barclays, Lloyds Banking Group, HSBC, UBS, Bank of America, Citi and Deutsche Bank. The action, which [...]
Lloyds Bank suffers IT outage as customers struggle to send and receive money January 18, 2019 Thousands of Lloyds Bank customers were unable to make payments this afternoon after the bank experienced an IT outage. Customers complained of difficulties transferring money from their accounts due to issues related to the lender's Faster Payments system, which allows customers to send and receive payments by internet or phone. "We are aware that some customers [...]
Lloyds prepares for Brexit with Berlin banking licence January 18, 2019 Lloyds Banking Group has secured a banking license for its Berlin subsidiary as the Brexit deadline date approaches. The lender has previously run the office on a standard passporting licence, however all British banks with customers in the EU could lose the licence after March 29 therefore Lloyds is seeking further regulatory approval, Reuters reported. [...]
Leading MP slams Lloyds Banking Group’s overdraft fee changes January 13, 2019 An influential MP has slammed Lloyds Banking Group for trying to “game the system” with its new overdraft fees. Labour MP Rachel Reeves, chair of the Business, Energy and Industrial Strategy select committee, said Lloyds’ upcoming overdraft changes would increase fees for the majority of customers and went against the spirit of recent recommendations from [...]
Could the UK be on the brink of a US-style class action explosion? December 16, 2018 The Royal Bank of Scotland, Lloyds Banking Group, Tesco, Google and Mastercard. These are just a handful of the household names that have been targeted in group action lawsuits in the UK with billions of pounds at stake. The UK, unlike the US or Australia, does not have a long history of class action-style lawsuits, [...]
Lloyds pays out to whistleblower who alleged HBOS cover-up November 14, 2018 Lloyds Banking Group has apologised and paid an undisclosed amount in compensation to a whistleblower who produced an internal report that criticised the lender’s handling of a large-scale fraud. The bank previously settled with Sally Masterton, a former senior risk officer at HBOS, over claims she had been unfairly dismissed. Masterton “acted with integrity and [...]