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The Latest Breaking News on Financial Services

Mortgage debts and bust firms put UK banks’ profits under pressure

With the big lenders reporting their results this week, investors are trying to stay optimistic and hoping there will be no more crises

The Guardian - UK

Postings proves savings market has its funny side

City Comment: If some banks can’t compete with the Government, let them merge with those who can, or be repossessed

Evening Standard

Postings comments show savings market has its funny side

City Comment: If some banks can’t compete with the Government, let them merge with those who can, or be repossessed

Evening Standard

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Odisha STF cracks massive racket involved in opening ‘mule bank accounts’

STF cracks massive racket involved in opening 'mule bank accounts' to help cyber/financial fraudsters. Arrests 3 in tri-junction region of Odisha, Jharkhand & West Bengal. Gang offered ₹2K/account to villagers & sold 5000 mule accounts at ₹15-20K. Shield identity of fraudsters & difficult for investigators to reach actual criminal.

The Hindu

Challengers top customer satisfaction surveys for savings and current accounts

Offers of free cash should not be the sole motivation for moving banks, Which? said.

The Independent UK

Justice Department secures $9 million settlement with Ameris Bank over redlining in Florida

The Justice Department has secured a $9 million settlement with Ameris Bank over allegations it avoided underwriting mortgages in predominately Black and Latino communities in Jacksonville, Florida, and discouraged people there from getting home loans

The Independent UK

Newcastle Greater boss hails 'standout' profit result

The merged banking group has posted its first annual financial results.

Newcastle Herald

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Santander warns firms to be on ‘high alert’ after impersonation scams double

The bank said more than 200 of its corporate and commercial customers are known to have been targeted in September.

The Independent UK

3 Dynamic Bank Stocks to Consider for Sustainable Profits

The U.S. banking industry has been facing several headwinds, including slowing loan growth, stricter capital requirements, rising deposit costs and credit rating downgrades. Amid the uncertainty surrounding the U.S. banking industry’s prospects, it could be wise to look beyond borders and buy fundamentally strong foreign banking stocks Barclays (BCS), Agricultural…

StockNews.com

Why did City banks quietly shut down their ethics watchdog?

City Voices: History has shown that banks cannot be trusted to regulate themselves

Evening Standard

Some customers are still paying the price for corruption at failed Bridgeport bank

Customers who trusted the crooked bank to do the right thing are still out up to $312,000 each, as the latest story in the Sun-Times investigative series shows.

Chicago Sun-Times

Morgan Stanley (MS) Earnings Assessment: Weathering the Financial Storm or Growth Ahead?

Morgan Stanley (MS) will be the latest big bank to release its third-quarter earnings this week. Read more to know how investors should position themselves ahead of its earnings release….

StockNews.com

International banker sacked after claiming partner’s sandwich on expenses

Citibank analyst dismissed after claiming for two sandwiches, two coffees and two pasta dishes on work trip to Amsterdam

The Independent UK

Bank of America (BAC) Earnings Under the Microscope: A Buy or Sell Opportunity?

Bank of America (BAC) is scheduled to release its third-quarter results on October 17. While the bank is expected to report higher earnings year-over-year, its unrealized bond losses are expected to widen further. So, is the stock a buy or sell? Keep reading….

StockNews.com

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StockNews.com

Is Truist Financial (TFC) a Buy or Sell Before Earnings?

Truist Financial Corp (TFC) is set to report its third-quarter results this week. Should investors buy or sell the stock now, given its cost-cutting plans? Let’s look at its financial metrics to gauge its prospects….

The Independent UK

Banker who got into double trouble for claiming 2 meals on expenses loses UK lawsuit over firing

A financial analyst who was fired by Citibank after claiming a two-sandwich lunch on expenses has lost a legal battle for wrongful dismissal

The Guardian - UK

Former Bank of China boss arrested on corruption charges

Liu Liange charged with accepting bribes and illegally granting loans amid country’s anti-corruption drive

The Times of India

ED provisionally attaches Rs 315.6 crore worth of assets in bank fraud case in Maharashtra

MUMBAI: The enforcement directorate (ED), probing money laundering angle in a bank fraud case, on Friday has provisionally attached 70 immovable properties located at five locations in Maharashtra and moveable assets such as silver and diamond jewellery etc collectively valued at Rs 315.6 crore.

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The Times of India

Mumbai: Retired Army officer loses money in online fraud

MUMBAI: A retired Indian Army officer was shocked to learn Rs2.37 lakhs was siphoned off from his two savings banking accounts in a nationalised bank between September 8 and 15.

AAP

'Bicycle bandit' charged over decade of bank robberies

After almost two decades, police have arrested and charged a man in his 70s they allege is the "bicycle bandit" responsible for a series of bank robberies.

The Guardian - UK

Tim Dowling: masonry – how hard can it be? But I’ve got to find the right trowel …

With the help of YouTube, I’m repairing the garden wall. But the more I chip, the more bricks I need to replace …

The Guardian - US

JP Morgan CEO warns world may be facing ‘most dangerous time’ in decades

Jamie Dimon says Israel-Gaza conflict may have ‘far-reaching impacts’ on energy prices, food costs and international trade

Chicago Sun-Times

Crooked Bridgeport bank used these people’s CDs to fuel embezzlement scheme — ‘We were all victims’

Washington Federal Bank for Savings customers had no idea the high interest rates that attracted them were feeding the fraud. The bank’s “smooth operators” lured them in, the daughter of one victim says.

The Independent UK

NatWest initiative could save hassle for some shoppers at online checkouts

Customers with a NatWest, Royal Bank of Scotland or Ulster Bank Mastercard have been registered for the Click to Pay service.

The Independent UK

Sri Lanka says it has reached an agreement with China's EXIM Bank on debt, clearing IMF funding snag

Sri Lanka says that it has reached an agreement on key terms and principles on its debt restructuring with the Exim Bank of China

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