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The Latest Breaking News on Financial Services

Client of crooked Bridgeport bank got out of $4 million owed by going bankrupt, then got millions more in loans

A month after Edward H. Gobbo got out of bankruptcy, Washington Federal Bank for Savings CEO John F. Gembara starting giving him loans of millions, records show. When the bank went bust, Gobbo or his immediate family owed more than $3.8 million on 27 residential loans, some of them years…

Chicago Sun-Times

Bank of Russia raises interest rates to 15% to fight inflation; US consumer confidence dips – as it happened

Russian central bank says current inflationary pressures have significantly increased to a level above its expectations

The Guardian - UK

City watchdog: NatWest may have breached rules in Farage account controversy

The bank published a report today showing "serious failings"

Evening Standard

From analysis to the latest developments in health,
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NatWest decision to close Nigel Farage’s bank accounts was lawful, says report

Investigation for bank finds however that there were ‘serious failings’ in handling of Coutts move and treatment of ex-Ukip leader

The Guardian - UK

HC stays summons issued by ED to Cooperative Society Registrar

Kochi HC stays ED summons to Registrar of Co-op Societies for passport, Aadhar & PAN card details of family members in Karuvannur Co-op Bank case. Court observes summons not issued in accordance with PMLA Act & ED free to file counter affidavit. Petitioner claims ED's action an infringement of right…

The Hindu

Lloyds Bank: UK economy to grow but house prices to keep falling

LLOYDS BANK doubled its forecast for UK economic growth this year and insisted that consumers remain resilient in the face of gloomy predictions for the jobs market and global political strife.

Evening Standard

Lloyds Bank says UK economy improving slightly - on course to avoid recession

Lloyds Bank, Britain’s biggest high street bank, thinks the UK’s economic position is modestly improving and that the nation remains on track to avoid a recession.

Evening Standard

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Lloyds bank closure made cancelling housebound husband’s standing order a real trial

Our town’s branch has shut but when I went to the nearest one 10 miles away they said they couldn’t stop the payment

The Guardian - UK

UK financial regulators scrap cap on bankers’ bonuses

Bonus cap to end on 31 October, a move condemned by unions as an ‘insult to working people’

The Guardian - UK

Barclays raises fears for jobs after investment banking slowdown

The high-street lender suffered a slowdown at its investment bank and a rise in bad debts — profits fell 4% in the third quarter to £1.9 billion

Evening Standard

Barclays profit falls as banking giant considers cutting costs

Shares in the company tumbled by more than 8% on Tuesday morning after it gave an update on its financial performance for the third quarter.

The Independent UK

UK decision to scrap caps on bankers’ bonuses condemned as ‘obscene decision’ by union – as it happened

The number of unemployed grew by 82,000 in the three months to August and Barclays seeks to cut costs after profits dip

The Guardian - UK

Barclays bankers fear cost-cutting job losses after profits fall

Third-quarter profits down 4% on a year ago as growth in net interest income from UK retail business stalls

The Guardian - UK

The grey moral ground of lying on expense travel reports

A Citibank employee was recently fired for fudging receipts, but companies are striving to follow the rules laid down by the IRS

The Guardian - US

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The Guardian - UK

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

Evening Standard

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

The Hindu

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.

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The Independent UK

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

Newcastle Herald

Newcastle Greater boss hails 'standout' profit result

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

The Independent UK

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.

StockNews.com

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…

Evening Standard

Why did City banks quietly shut down their ethics watchdog?

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

Chicago Sun-Times

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.

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