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The Latest Breaking News on Financial Services

Metro Bank shares rebound amid reports of £600m capital offer

Lender’s stock hit all-time low after news it was exploring selling off up to 40% of mortgage book

The Guardian - UK

RBI doubles gold loan limits for urban cooperative banks to Rs 4 lakh

MUMBAI: The Reserve Bank of India on Friday announced doubling the lending limits for gold loans under the bullet repayment scheme for urban cooperative banks to Rs 4 lakh.

The Times of India

What is happening at Metro Bank and why is it in need of so much money?

Shares have tumbled by 30% in the bank now operating at the edges of its capital requirements

The Guardian - UK

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Six high-street banks given ‘red’ warning over eco policies, Which? reveals

JP Morgan Chase, Santander, Barclays, HSBC, NatWest Group and Lloyds Banking Group were criticised by the consumer champion.

The Independent UK

Metro Bank shares plummet as bank seeks to shore up balance sheet

Stock falls by quarter after news high street lender looking to sell off mortgages or tap investors for more cash

The Guardian - UK

Metro Bank considering raising hundreds of millions from investors

High street lender recently failed to convince regulators it could be trusted to hold less cash against its mortgage risks

The Guardian - UK

Former Co-op Bank boss in court accused of fraud

Paul Flowers, 73, appeared in court with the aid of a Zimmer frame

Evening Standard

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CM fooling people that their investments are safe with Karuvannur bank: Satheesan

Congress party was apprehensive about the outcome of the case, says Opposition leader; he also wants the government to do everything to give back depositors the life savings that they had lost

The Hindu

Fixing the rot in the cooperative sector

Societies and urban banks are controlled by politicians with no domain expertise

The Hindu

Judge stands aside in ANZ pregnancy discrimination case after ‘candid’ comments revealed

‘Extraordinary turn of events’ sees judge in long-running court case step aside after being recorded making remarks

The Guardian - AU

Navigating the Banking Storm: Is It Time to Invest in JPMorgan (JPM) and U.S. Bancorp (USB)?

The U.S. banking sector currently feels the pressure of credit rating downgrades. Additionally, with interest rates unlikely to be cut soon, the banking industry will likely face higher deposit costs and slowing loan growth. Amid this backdrop, will investing in JPMorgan Chase (JPM) and U.S. Bancorp (USB) be wise? Read…

StockNews.com

As polls approach, coop. bank scam may impact parties’ fortunes

The Enforcement Directorate (ED) investigation into the money laundering aspect of the Karuvannur Service Cooperative Bank scam will have a bearing on the Communist Party of India (Marxist) [CPI(M)], the Congress, and the Bharatiya Janata Party (BJP), especially in the Thrissur parliamentary constituency, and perhaps wider, as the Lok Sabha…

The Hindu

How to get the best out of using a credit card

They are not for everyone but can reap rewards if handled in the right way

The Guardian - UK

Reserve Bank likely to stay on data watch in October

The key cash interest rate is likely to remain unchanged at 4.1 per cent after the first central bank monetary policy meeting led by governor Michele Bullock.

AAP

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AAP

Woman charged over alleged role in card-skimming scheme

Financial Crime Squad detectives in Sydney have charged a third person as investigations into a $3.75 million international bank card-skimming scheme continue.

The Guardian - US

Brazil bank’s past slavery ties to be investigated in unprecedented inquiry

Banco do Brasil, one of country’s biggest banks, under scrutiny as institutions called to account for role in trafficking of Africans

The Hindu

Internal probe reveals major loan scam at Mylapra cooperative bank

Internal investigation into Mylapra Service Cooperative Bank in Pathanamthitta reveals embezzlement of ₹18.83 crore by former bank secretary Joshua Mathew through 28 loans to relatives. Former bank president Jerry Oommen Easo and his family also took loans worth ₹2 crore. Crime Branch probe on to investigate benami loans worth ₹86.12…

The Independent UK

Starling Bank is boosting its current account interest rate to 3.25%

The challenger bank said the move will mean customers do not need to move money into separate accounts to earn interest.

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news in one place.

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AAP

Thousands of Aussies hit in Romanian card-fraud scheme

Police have arrested two men in Sydney for their alleged involvement in a credit-card skimming syndicate that spans four continents.

The Guardian - US

Rhode Island bank agrees to pay $9m over discriminatory lending allegations

DoJ says Washington Trust engaged in redlining, the racist policy of banks blocking people of color from getting mortgages

StockNews.com

Boost Your Savings With These 3 Piggy Bank Stocks

Amid turbulence in the U.S. banking sector, with deposit outflows, credit downgrades, and growing caution among domestic lenders, one could consider venturing beyond borders and investing in resilient foreign bank stocks Erste Group (EBKDY), Banco Macro (BMA), and KB Financial Group (KB) for financial stability. Read more….

The Hindu

A political battlefront shapes up in Kerala over cooperative sector corruption

Kerala's cooperative banking sector faces corruption allegations, with ED probes against CPI(M) leaders. Congress and BJP see political opportunity, as sector is crucial to livelihoods of many. Kandala Cooperative Bank in Thiruvananthapuram accused of loan fraud, nepotism, etc. Opposition leader claims more scams to emerge. CPI(M) blames Congress and BJP…

StockNews.com

3 Bank Stocks With Impressive Gains Worth Investor Attention

Amid the growing challenges of ratings downgrades by top credit rating agencies and higher deposit costs, it could be wise to look beyond borders and buy fundamentally strong foreign banking names Commerzbank (CRZBY), Intesa Sanpaolo (ISNPY), and Banco BBVA Argentina (BBAR), which have delivered impressive returns. Read more….

The Independent UK

Scam warning for bargain hunters browsing ‘closing down’ sales

August saw a combination of Wilko tumbling into administration alongside other outlets holding traditional end-of-summer sales.

The Guardian - UK

Co-operative Bank seems to have lost £2,500 I sent abroad

It was to fund a language laboratory but when the money didn’t arrive we knew there was a problem

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