Payments watchdog won’t be abolished ‘any earlier than 2027’ Regulation The boss of the payments watchdog has said he doesn’t expect the regulator to be officially abolished any earlier than the first quarter of 2027 as criticism grows over the slow progress of reforms in the sector. David Geale, managing director at the Payment Systems Regulator (PSR), said he had “not seen the outcome” of [...]
Exclusive: Starling’s top investor withdraws support for London IPO Fintech Starling’s elusive billionaire backer has gone cold on his ambition for the digital bank to list in London, City AM can reveal, in a move that will heighten fears of the fintech heading to New York for its highly-anticipated IPO. Harald McPike had lobbied for the group to launch its initial public offering in London [...]
Bank of England names first fintech cohort for scale-up regulator Fintech The Bank of England has named the first handful of UK fintech talent which will be overseen by the new regulatory ‘Scale-Up’ unit. Small business lenders OakNorth and Allica Bank – which was named the fastest-growing fintech ever by Deloitte – were listed as two of the firms that had been accepted into the first [...]
UK payments stuck with ‘bolted on’ European regulation, says PSR boss February 2, 2026 The boss of the UK’s payments regulator has said the body’s consolidation with the City watchdog will allow it to ditch overhanging red tape from Europe. David Geale, who heads up the Payments System Regulator (PSR) and leads on payments at the Financial Conduct Authority (FCA), said: “There are bits of payments regulation that have [...]
Reeves told City at ‘critical juncture’ after claims of golden age January 25, 2026 Rachel Reeves has been handed a firm warning that Britain’s financial ecosystem is facing a “critical juncture” even after the Chancellor touted a “golden age” of opportunity for the City. The Chancellor faces a call to action following a report from lobby group TheCityUK and Big Four consultancy giant PwC revealing the “hard truth” that [...]
EU banking rules could ‘choke investment’ from booming City January 14, 2026 The European Union threatens derailing its economic growth through changes to banking regulation after London beefed up its lending capacity following a Brexit boom. The 27-state bloc is set to bring in new legislation which will effectively ban non-EU banks from providing core banking services – such as lending and taking deposits – without establishing [...]
Paypal becomes latest fintech to capitalise on Trump’s deregulation December 16, 2025 Paypal has its sights set on acquiring a banking licence in the US as it becomes the latest fintech aiming to jump on President Donald Trump’s deregulatory agenda. The payments giant on Monday said it had submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to form Paypal Bank. [...]
Motor finance lenders brace for legal battles amid redress spat December 15, 2025 Motor finance lenders have been sent a major warning over a potential influx of legal battles if the UK’s financial watchdog fails to “genuinely compensate” consumers. Britain’s top banks were thought to have been granted some reprieve earlier this year after the Supreme Court sided with upheld the appeals of two lenders in the landmark [...]
Crypto firms face clamp down from Treasury and watchdog December 15, 2025 Cryptocurrencies will face regulation like any other financial products under new laws announced by the Treasury. Firms that offer crypto products will fall under the Financial Conduct Authority’s jurisdiction as part of new rules requiring digital assets providers to meet a set of standards from the City watchdog. The Labour government said the new legislation, which comes into [...]
Rachel Reeves’ Budget was ‘monumentally mishandled,’ says London-listed bank December 11, 2025 A London-listed bank has given its scathing assessment of Rachel Reeves’ second Autumn Budget and warned of the impact it will have on consumer confidence. S&U – which was founded in 1938 and once known as Sports and Utilities – said the performance of its motor finance and property financing arms was “remarkably resilient given [...]