Revolut banking licence bid goes down to the wire as key deadline looms July 8, 2025 Revolut is facing a fresh regulatory headache in the UK amid mounting expectations it may miss a key deadline in the ongoing process to become a fully operational bank. The digital banking juggernaut received the green light for its UK banking licence from Britain’s banking watchdog last year after a three-year wait, which triggered a 12-month [...]
Secure Trust Bank: Jobs at risk as lender exits motor finance July 2, 2025 Specialist lender Secure Trust Bank has announced a “strategic pivot” away from its motor finance division in a bid to boost returns. The group said it will pause new lending within its vehicle finance division and “run off” its existing book, meaning it will manage its current portfolio until it naturally winds down. The bank [...]
City watchdog takes on advice gap to unlock growth June 30, 2025 The Financial Conduct Authority (FCA) has launched a new form of financial help dubbed ‘targeted support’ in a bid to encourage greater consumer participation in financial markets and unlock more investment-led growth. The City regulator will target consumers with common financial characteristics, such as unsustainable pension drawdown, inadequate retirement savings and excess cash not being [...]
FCA reviewing bank risk appetite to boost home ownership June 24, 2025 The Financial Conduct Authority has said it will review lenders’ risk-taking in its bid to boost home ownership. The City watchdog said it was seeking a “public conversation” on the “future of the mortgage market” as it looks to support economic growth through an overhaul on mortgage rules. An update to “responding lending rules” was [...]
Saga shares jump after revealing banking tie-up with Natwest June 24, 2025 Shares in over-50s group Saga rose on Tuesday after the firm revealed it was in “final negotiations” with FTSE 100 juggernaut Natwest for a banking partnership. The London-listed company quickly climbed three per cent in early trading to 176.80p. The firm posted the update ahead of their AGM on Tuesday, confirming it had “agreed heads [...]
FCA vows to take action faster amid jump in whistleblower reports June 24, 2025 The UK’s financial regulator has said it is “closing reports faster” after receiving more whistleblower reports than ever during its latest financial year. The Financial Conduct Authority said it had received 1,131 reports in the 12 months to end March, a small increase on last year and a jump of 8 per cent on five [...]
Toyota braced for motor finance pay out as ruling nears June 18, 2025 Toyota has set aside millions in case the Supreme Court rules the company and the wider industry should pay customers compensation when it delivers its verdict on the motor finance saga in the coming weeks. The UK-based financial services arm of the car giant has earmarked the funds to shore itself up in the eventually [...]
S&U shake off motor finance woes as verdict looms June 18, 2025 Specialist lender S&U said it remains confident in the group’s turnaround from motor finance woes after a strong start to the financial year. The bank said in a trading update on Wednesday that optimism in their annual report was “clearly being justified” by the firm’s performance since April. S&U’s profit for the financial year ending [...]
Metro Bank shares soar after takeover interest from Shawbrook owner June 16, 2025 Shares in Metro bank boomed as markets opened on Monday after reports the high street lender had been approached for a takeover. The FTSE 250 bank’s stock was up nine per cent to 122.00p during early trading. On Friday, shares closed at 112.2p, giving it a market capitalisation north of £750m. This follows private equity [...]
FCA boss: Buy now, pay later regulation is a trade off June 10, 2025 The chief executive of the Financial Conduct Authority (FCA) said the new clamp down on buy now, pay later (BNPL) regulation would be a “trade off” as he faced a grilling from MPs. Nikhil Rathi, who was reappointed as the regulator’s boss in April, told the Treasury Committee the crackdown would have “beneficiaries and downside [...]