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The Latest Breaking News on Financial Services

Scam protection from banks under scrutiny as Australians lose $53m in two months

Sharon Watkins was fortunate enough to get her money back, but she and consumer advocates say it's time banks did more to protect their customers. Meanwhile, Australians have already lost $53m to con artists this year.

ABC News

NAB bank head backs in Labor superannuation plan

Labor has received support for its superannuation plan from an interesting quarter - the chief executive of NAB.

AAP

LHFG to expand Taiwan loan portfolio

Land and Houses Financial Business Group (LHFG), a holding company of LH Bank, aims to grow its Taiwanese banking business more aggressively this year, boosted by manufacturing relocation by multinational and Taiwanese firms to Asean amid deglobalisation.

Bangkok Post

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AIB says it does not cut 'special deals for special individuals' despite DJ Carey write-down reports

Representatives from AIB appeared in front of the Oireachtas Finance Committee following reports that former Kilkenny hurler DJ Carey received an alleged settlement resulting in a €9.5 million debt being written down

Irish Mirror

India lends support to Ajay Banga's nomination for World Bank President post

NEW DELHI: India on Thursday extended support to the candidature of Ajay Banga as World Bank President, saying his nomination comes at a time when the multilateral lending agency is considering next-generation reforms.

The Times of India

Mystery of how Nationwide lost my £3,000 in Bulgaria

I asked it to send the money to my husband’s bank account. Now it can’t locate it and the case is closed

The Guardian - UK

Goolsbee’s wife works at firm that helped pick him for Fed job

WASHINGTON — The search firm hired by the Federal Reserve Bank of Chicago to help find a new president includes among its executives the wife of Austan Goolsbee, the person ultimately picked for the role.

Tribune News Service

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Bank closures hurt communities, Westpac admits to probe

Westpac and NAB executives are facing the regional banking inquiry, which is examining the impact of branch closures in country towns.

The New Daily

CIMBT eyes 20% gain for digital

CIMB Thai Bank (CIMBT) targets growing its digital banking business by 20% this year in terms of users and transactions, driven by increasing digital adoption in Thailand.

Bangkok Post

A third of the nation's bank branches have shut in the past five years — for people in the country, that's a huge problem

Despite soaring profits for Australia's big four banks, that number in the billions, almost one-in-three of their branches have closed in the past five years and now a parliamentary committee is examining the impact of those closures, especially on regional centres.

ABC News

UK government made £2.4bn from ‘mortgage prisoner’ loan sales, says Martin Lewis

Tens of thousands of borrowers had their loans sold on to providers at which they were unable to switch

The Guardian - UK

Banking giants asked to explain why some savings rates remain so low

The Treasury Committee is asking major banks for a breakdown of the revenue and profits generated from their savings products.

The Independent UK

Charlie Bird thanks Bank of Ireland staff after he became distressed in branch

The broadcaster often experiences crying episodes, which stem from his Motor Neurone Disease symptoms, and recently broke down in a Bank of Ireland branch in Wicklow

Dublin Live

ANZ bank apologises after customers' personal information found in Perth skip bin

One of Australia's biggest banks investigates after customers' personal data is discovered "floating down the street" after being dumped in a skip.

ABC News

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Birmingham Post

The Co-operative Bank hails 'positive momentum' as profits jump by £100m

The bank has also announced its commitment to reach net zero on Scope 1 and 2 direct emissions by 2030

Irish Mirror

Charlie Bird thanks Bank of Ireland staff for their help after 'crying uncontrollably' in branch

Charlie recently shared a health update saying his condition has gotten "much worse"

Newsroom.co.nz

Growing momentum for 'David and Goliath' official inquiry into banks

Proposed terms of reference say bank account number portability must be enforced with urgency, and ex-ministers like John Key shouldn't go straight onto bank boards. Jonathan Milne reports.

The Guardian - AU

The Australian towns where the nearest bank branch is nearly 1,000km away

With nearly 100 regional branches either closed or soon to close, getting to the bank is becoming increasingly difficult for Australians in remote areas

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The Independent UK

Swiss regulator: Credit Suisse made 'serious breach' of law

Swiss regulators have found that Credit Suisse made a “serious breach” of law in connection with a now-bankrupt firm linked to Australian financier Lex Greensill

Daily Record

Perthshire town put forward as a great location for shared banking hub idea being tried out in Scotland

To offset the loss of three bank branches which have deserted Aberfeldy in Highland Perthshire, local MP Pete Wishart has said the town would be perfect to site a 'banking hub' where the different banks all had a public presence and shared the associated costs.

The Guardian - UK

Credit Suisse ‘seriously breached’ obligations on Greensill, says regulator

Swiss bank is seeking to recover $10bn of funds linked to collapsed supply chain finance firm

Insider UK

Edinburgh law firm appoints chief operating officer

The firm's relationship banker for 18 years while at RBS, the new hire joins at the start of April

Insider UK

Scottish business confidence sees February uptick

Scottish firms prioritising hiring new employees, introducing new technology and evolving their offer

Newcastle Herald

Newcastle's historic Greater, Perm banking merger begins today

The merged entity's priorities will be "retaining and growing our customers".

Asharq Al-Awsat

Lebanon: Mikati Rejects Accusations of Interfering in Judiciary

Caretaker Prime Minister Najib Mikati reiterated that his calls on the outgoing Interior Minister to block judicial “violations” taken by FPM Judge Ghada Aoun against local banks are not considered an interference in the judiciary. He emphasized that some decisions must be taken for the good of the country. “We…

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