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The Latest Breaking News on Financial Services

New initiative for hiring talent from tier 2 and tier 3 towns

The Hindu

West Side credit union launches online, teases physical branch opening

The credit union — Leaders Network Financial in partnership with Great Lakes Credit Union — is open to members of the Leaders Network. They hope to open a branch at 5600 W. Madison St. in February, with a possible interim branch before then.

Chicago Sun-Times

Barclays cuts mortgage prices again despite higher gilt yields

The bank is cutting mortgage prices for 52 products

Evening Standard

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What NZ universities can learn from US banking's recent woes

When the pandemic led to a sudden drop in international enrolments, the inherent vulnerability of our universities was laid bare. Worryingly, a half are now undergoing a full-blown corporate-style reorganisation, argues Martien Lubberink

Newsroom.co.nz

Afternoon Update: Alan Joyce grilled at Senate inquiry; record number of Australians facing mortgage stress; and Murray cod numbers dwindle

Almost one-third of mortgage holders are at risk of mortgage stress – worse than at the height of the global financial crisis in 2008

The Guardian - AU

Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM

Under the scheme, the number of bank accounts grew 3.4-fold from 14.72 crore in March 2015, to 50.09 crore as on August 16, 2023.

The Hindu

Barclay family aim to regain Telegraph control with UAE backing – report

Family are said to have secured investment from anonymous backers based in Abu Dhabi

The Guardian - UK

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MHA clearance for credit of foreign contribution is necessary; mere registration under the FCR Act is not enough: Karnataka High Court

Mere possession of permanent registration under the Foreign Contribution (Regulation) Act, 2010, does not create a right in favour of an organisation to get the amounts, received from foreign countries, credited to their designated savings bank account, the High Court of Karnataka has said.

The Hindu

Account owned by serial killer Rose West kept open by Co-op Bank

It is understood the bank thought closing the account would cause problems for West’s daughter

The Guardian - UK

J.D. Power Ranks American Express Top Card Issuer

The annual survey ranks credit cards by consumer satisfaction and reports on trends, like rising credit card debt.

Kiplinger

‘Ethical’ bank let Rose West keep account

Bosses at the organisation deemed keeping West as a customer carried little risk to the bank’s reputation

The Independent UK

The ‘debt help solutions’ that could actually make money problems worse

Promises of ‘quick fixes’ to debt problems are tempting, but could lead to people being offered unsuitable and unaffordable remedies. By Vicky Shaw

The Independent UK

Which Bank Stock Is Worth Investing In: Citigroup Inc. (C) vs. Bank of America (BAC)?

After stabilizing briefly, the banking sector finds itself in a tough spot because of the negative stance of major credit rating agencies. Amid this uncertain environment, which is a better investment option between Citigroup (C) and Bank of America (BAC)? Keep reading….

StockNews.com

BRICS Bank Eyes Cutting Dollar Reliance With Local Currency Loans

A deliberate attempt by the Shanghai-based New Development Bank to reduce dependency on the US is to offer loans.

Zenger

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The Hindu

ED freezes Moideen’s bank accounts

The Enforcement Directorate (ED) that raided the residence and office of former Minister and Communist Party of India (Marxist) MLA A.C. Moideen in connection with the multi-crore loan scam at Karuvannur Service Cooperative Bank took steps to freeze his two bank accounts on Wednesday. It is reported that these accounts have…

StockNews.com

Which of These Bank Stocks Should You Keep an Eye On?

The banking industry has grappled with several challenges this year, with the recent anxieties over rating downgrades exerting constant pressure on banking stocks. Amid this uncertainty, let’s evaluate Citigroup Inc. (C), M&T Bank Corporation (MTB), and Comerica Incorporated (CMA) to identify which among these you should keep an eye on.…

The Independent UK

Ex-NatWest boss Alison Rose set for £2.4m payout after resigning over Farage row

Ms Rose resigned after she admitted to being the source of an inaccurate story about Nigel Farage’s finances.

The Independent UK

New York bank manager arrested for murder-for-hire plot on Facebook against her brother-in-law

Reshma Massarone, 39, faces up to 10 years in prison if convicted of alleged scheme

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news in one place.

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Evening Standard

‘Don’t do a Rose’ — NatWest chief’s exit amid Farage controversy prompts a new set of rules for bosses

Media Watch: NatWest CEO Dame Alison Rose was seen as one of the safest pairs of hands in the City. Now businesses are on red alert

Evening Standard

Santander cuts mortgage rates but experts warn price war ‘won’t last’

The UK’s top lenders have been cutting mortgage rates after they rose dramatically from May to July, with all of the “Big Six” having cut prices on multiple occasions

The Hindu

Ex-CVC Suresh N Patel to head advisory board to examine role of top bank officials in frauds

CVC Suresh N Patel appointed Chairman of Advisory Board for Banking & Financial Frauds (ABBFF). Board members incl. Ravikant, Rajni Kant Mishra, David Rasquinha & Partha Pratim Sengupta. ABBFF to examine role of bank officials in fraud cases > Rs 3 crore.

The Guardian - UK

National Trust resists pressure to ditch Barclays over environmental concerns

Attempt to cut ties with bank, which directly invests in new fossil fuel projects, fails at AGM

The Hindu

J&K Bank sacks Chief Manager Sajad Bazaz for ‘State’s security interests’

J&K Bank terminates Chief Manager Sajad Bazaz's services, citing "State's security interests". No formal inquiry held. Govt constituted STF to identify and scrutinise employees involved in anti-national activities. PDP president Mehbooba Mufti questions move.

StockNews.com

JPMorgan Chase & Co. (JPM), Wells Fargo & Company (WFC), and Bank of America (BAC): What Does Smart Money Think About These Stocks?

After facing several challenges earlier this year, the banking industry stabilized over the past few months. However, the recent concerns surrounding the rating downgrades keep banking stocks under pressure. Amid this uncertainty, what does smart money think about JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo & Company…

Kiplinger

Online Banking Site Launched for U.S. Soldiers

A community bank joins forces with a financial technology startup to serve military members.

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