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The Latest Breaking News on Financial Services

Wall Street bails on climate coalition

Goldman Sachs, Wells Fargo, Morgan Stanley, Citi and Bank of America all left the Net-Zero Banking Alliance

Salon

Barclays suggested ‘mystery shoppers’ could pretend to be blind or deaf

Bank faces criticism over adverts saying people testing its services could ‘fabricate’ conditions for £45 per visit

The Guardian - UK

January sales warning issued to bargain hunters by major bank

Lloyds Banking Group recorded a jump in the number of rogue retailers being identified in January last year.

The Independent UK

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Hope for end to wage theft as laws come into force

Criminal penalties for employers who deliberately underpay workers have come into effect, with hopes they will deter bosses from engaging in the practice.

AAP

How a batch of tinned meat fostered fears of the millennium bug

Computer system errors led to huge costs for countries as they prepared for potential disaster

The Guardian - UK

Former bosses of HSBC and Rolls-Royce knighted in new year honours

Noel Quinn and Warren East, as well as Chanel chief Leena Nair among business figures to be honoured

The Guardian - UK

‘Shockingly lax’: how soaring British bank Starling had its wings clipped

Launched as a challenger to traditional lenders, it profited from offering state-backed loans during Covid. But then the regulator came calling

The Guardian - UK

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Texas man accused of threatening to slaughter Capital One execs who robbed him of ‘life he deserves’

“Please call me before I do things that are unforgivable and will make your executive team question their life choices,” 34-year-old Taylor Bullard warned, according to the FBI.

The Independent UK

UP police neutralize accused in Lucknow bank robbery case in encounter near Bihar border

In a significant breakthrough, the wanted accused in the Indian Overseas Bank (IOB) robbery case, Sunny Dayal, was neutralized in an encounter in Ghazipur near the Bihar border. Read further on Dynamite News:

Dynamite News

Two accused in Lucknow bank robbery killed in separate encounters

Two criminals allegedly involved in the robbery at the Indian Overseas Bank Chinhat branch in Lucknow were killed in separate encounters. Read further on Dynamite News:

Dynamite News

Credit Suisse Collapse Probe Slams Banking Regulator

Switzerland's financial regulator was ineffective in tackling the scandals at Credit Suisse, where executive mismanagement scuppered the bank and nearly triggered a global financial crisis, a Swiss inquiry concluded Friday.

International Business Times

City watchdog extends motor finance complaints deadline to next December

The extension follows a landmark Court of Appeal ruling in October.

The Independent UK

UniCredit Ups Pressure On Commerzbank, Fuelling German Anger

Italian bank UniCredit said Wednesday it had boosted its stake in Germany's Commerzbank, intensifying takeover speculation and sparking condemnation from Berlin of an "unfriendly" move at a time the country is in political limbo.

International Business Times

Lloyds advert banned for making false environmental claims

Watchdog ruled social media post failed to provide balanced information over bank’s ongoing financing of polluting industries

The Guardian - UK

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The Independent UK

Big banks urged to step up on sustainable finance in 2025

ShareAction warned the banks they can expect to see shareholder action next year if they fail to meet investor expectations for greener practices.

The Independent UK

Japan's largest bank apologizes over theft of millions of dollars from safe deposit boxes

Japan’s biggest bank has apologized after an employee allegedly stole more than 1 billion yen ($6.6 million) from customers' safe deposit boxes

The Conversation

Chalmers unveils new look Reserve Bank, with women in the majority on both its boards

A person with long experience in the financial services sector, Marnie Baker, and a distinguished academic economist, Renée Fry-McKibbin, have been appointed to serve on the Reserve Bank’s new monetary policy board:

The Guardian - AU

Jim Chalmers reveals two appointments to Reserve Bank’s new board tasked with setting interest rates

Renée Fry-McKibbin and Marnie Baker will sit on the RBA’s new board, which follows the government’s reform of the central bank

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news in one place.

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AAP

Scams lawsuit sends a message to Australia's banks

The corporate cop has put the nation's banks on notice after filing a civil case against HSBC Australia over its alleged failure to stop $23 million in scams.

Dynamite News

Bank Holiday today: Know banks are open or closed on Dec 14?

December 14, 2024, marks the second Saturday when banks across India will be closed. Read further on Dynamite News:

The Independent UK

Reeves says towns risk becoming ‘banking deserts’ as she sticks to hubs target

The Chancellor insisted the Government’s target for 350 banking hubs was a ‘massive ramp-up’ of previous plans.

Dynamite News

Mumbai: RBI receives bomb threat in Russian, probe underway

The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Read further on Dynamite News:

The Independent UK

The White House is cracking down on overdraft fees

The Consumer Financial Protection Bureau is capping the fees at $5 with a rule set to take effect in October 2025, if it isn't overturned by Congress or altered under a Trump administration

The Independent UK

Sir Keir Starmer ‘raised human rights’ with UAE amid efforts to free UK prisoner

Ryan Cornelius was originally detained in the UAE for 10 years as part of a bank fraud case, but his detention was extended by 20 years.

Dynamite News

CBI arrests Indian bank panel advocate in Kolhapur for accepting Rs 1.70 Lakh bribe

The advocate had initially demanded a bribe of Rs2.5 lakh, which was later negotiated down to Rs1.70 lakh, in exchange for deferring the possession of a mortgaged property under the SARFAESI Act. Read further on Dynamite News:

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