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The Latest Breaking News on Financial Services

Viral ‘Chase Bank Glitch’ promised people free money - but left them in thousands of debt and facing jail

The TikTok trend encouraged people to commit check fraud, to disastrous results

The Independent UK

Ferrari and Santander announce sponsorship deal to end after 2024

Spanish banking giant Santander and Ferrari will conclude their sponsorship agreement at the end of 2024 as the reported $60 million-a-year deal comes to an end.

Motorsport

Economy yet to turn a corner as higher rates bite

Australia is expected to post its slowest annual economic growth rate outside of the pandemic lockdowns since the 1990s as inflation persists.

AAP

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Wells Fargo worker found dead at her desk four days after clocking in

Arizona officials are investigating the death of Denise Prudhomme, 60, who was discovered by a colleague

The Guardian - US

Wells Fargo worker dies at her desk — and isn’t found until four days later

Police in Arizona do not suspect foul play was involved in Denise Prudhomme’s death

The Independent UK

Chime proves that financial branding doesn’t have to be boring

JKR builds a banking brand with personality.

Creative Bloq

No cost to taxpayers from bond scandal: ANZ head

There will be consequences across ANZ following the misconduct of employees over bonds, the company's head says.

AAP

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Barclays enlarges half-year bonus pool for first time since 2021

Rise to £675m after lifting EU bonus cap suggests lender may increase payouts to high-performing bankers

The Guardian - UK

Bendigo Bank profit falls but assets still healthy

Regional lender Bendigo and Adelaide Bank says mortgage holders are keeping ahead of repayments and expects conditions to improve for borrowers next year.

AAP

Missouri man’s armed bank robbery foiled by locked front door

Jacob Lowell Hessing planned to rob the Exchange Bank of Missouri on a Saturday, unaware that access to the building was by appointment only

The Independent UK

Why are nationwide payments delayed? Banking outage explained

Every customer will still be able to access the banking app and their Nationwide online account

Evening Standard

The horror, the horror: banks are having to compete for our business by offering better rates

Don’t buy the banks’ sob story. They are annoyed Australians are becoming more savvy at shopping around for better deals for their home loans

The Guardian - AU

Kate Forbes hails 'promising future' after state-owned Scottish bank's finance report

KATE Forbes has said that Scotland’s state-owned investment bank has an “increasingly promising future” after new figures ...

The National (Scotland)

If UK bank bosses demand uncapped bonuses then salaries must fall

Barclays was first to formally lift the cap imposed by the EU but the balance between fixed and variable pay has to be addressed

The Guardian - UK

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International Business Times UK

Jamie Dimon Backs Buffett Rule: Advocates 30% Tax for Millionaires to Help Cut $35 Trillion National Debt

Jamie Dimon calls for debt reduction and supports the Buffett Rule, which would increase taxes on the wealthy, amid US economic challenges.

The Guardian - UK

Race for UK banks to repay £100bn in Covid loans could help savers

Lenders may look to attract more deposits from savers to raise funds to repay Bank of England pandemic-era loans

The Guardian - UK

‘Kafkaesque’: bank blocks cash transfer, saying it could be an AI scam

Starling’s fraud team repeatedly refused to allow UK man to send £12,800 to friend in Austria, then froze account

The Independent UK

Monzo rated as Britain’s top bank in survey of 36,000 people

The Competition and Markets Authority has published the findings of its latest survey.

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The Guardian - UK

Texas comptroller adds NatWest to list of companies ‘boycotting’ fossil fuel firms

The bank is latest to be named by officials in the US state, which has law to protect oil and gas sector

Al Jazeera

Barclays planned to withdraw from Israeli bond auctions: Report

UK bank wanted to quell criticism over involvement with defence firms supplying Israeli military.

Latin Times

Corruption scandal threatens to derail Haiti's newly-formed transitional council

Three of its members are accused of demanding over $750,000 from the director of a state-owned bank to let him keep his job

The Guardian - AU

Commonwealth Bank to stop financing fossil fuel companies that don’t comply with Paris climate goals

Shareholders and customers of ANZ, Westpac and NAB are bound to demand their banks do the same, expert says

The Independent UK

NatWest latest major lender to offer sub-4pc mortgage rate in new price war

The high street lender began offering a 3.89 per cent deal with a £1,495 fee on Tuesday, following hot on the heels of other attractive offers for homeowners from Santander, Barclays, HSBC and Halifax

Evening Standard

NatWest joins the rate cutting stampede with 3.89% mortgage deal

Rush of “sub-4” deals is expected to reinject energy back into sluggish property market

Kiplinger

Top Five Benefits of Peer-to-Peer Lending

Flexibility of terms and fast application processing are just two of the perks of P2P lending over traditional lending.

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