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The Latest Breaking News on Financial Services

NAB defends branch closures, says most customers use phone or online services

National Australia Bank stands in stark contrast to its peers, which put regional branch closures on hold in the wake of an inquiry

The Guardian - AU

Bridgeport bank failure fallout: Dead CEO’s sister pleads guilty in collapse of Washington Federal Bank for Savings

Over seven years, Janice Weston, vice president of the board of the clout-heavy bank, ordered bank employees to fool federal regulators by backdating loan documents.

Chicago Sun-Times

Alex Murdaugh co-conspirator sentenced to seven years and $3.5m fine for financial fraud

Former associate allegedly helped Murdaugh steal from law firm clients

The Independent UK

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An accomplice to convicted murderer Alex Murdaugh's financial misdeeds gets seven years in prison

The former CEO of a respected South Carolina bank will spend seven years in federal prison for helping Alex Murdaugh steal nearly $2 million from clients' legal settlements

The Independent UK

Sarah Breeden to be deputy governor of Bank of England

Bank will have largest ever number of women on rate-setting monetary policy committee after appointment

The Guardian - UK

Is Smart Money Interested in Watching JPMorgan Chase & Co. (JPM) in August?

During the second quarter, JPM reported record profits and comfortably topped Street revenue and EPS estimates. The bank also raised its net interest income forecast for the year. Given this backdrop, will the smart money be interested in watching JPM this month? Read on to learn my view….

StockNews.com

Banks under fire as HSBC profits surge while borrowers are squeezed

The chair of the Treasury Committee said the latest figures show major lenders are not sufficiently passing on higher interest rates to savers

The Independent UK

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HSBC profits double but it warns 'tougher time’ on the way

HSBC poured fuel on the row about bank profits today with stonking profits of nearly £17 billion in just the last six months.

Evening Standard

We were set back 10 years after NatWest shut account, says business owner

It comes as ex-Ukip leader Nigel Farage has launched a new website amid plans to ‘build a powerful lobby group’ to oppose de-banking.

The Independent UK

Banks with lowest savings rates to face ‘robust action’, warns UK financial watchdog

FCA gives banks four weeks to justify savings rates as it lays out 14-point plan to monitor treatment of customers

The Guardian - UK

Delhi Court issues notice to ED on Sisodia's plea seeking permission to withdraw cash for expenses

Delhi's Rouse Avenue Court on Monday issued notice to the Enforcement Directorate (ED) on a plea of former Delhi Deputy Chief Minister Manish Sisodia seeking permission to withdraw some amounts from a bank account for medical expenses for his wife and other household expenses. Read further on Dynamite News:

Dynamite News

My debit card and pin were stolen but Barclays is treating me as the criminal

It had sent me new ones but before they arrived £1,000 disappeared from my account

The Guardian - UK

Banks' endless battles with scammers

One of New Zealand's biggest banks shows Sharon Brettkelly how they respond to the ever-changing and increasing threat of scammers.

Newsroom.co.nz

Scotland has one of the highest rates of ‘unbanked’ people

MORE than a million adults across the UK do not have access to a bank account, with the highest proportion in the south of Scotland, figures show.

The National (Scotland)

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The Guardian - UK

NatWest chair quitting over Coutts row would not be ‘helpful’, says City minister

Andrew Griffith backs Sir Howard Davies staying in post after resignations of chief executive and head of private banking arm

The Conversation

Bank account closures don't just affect 'politically exposed persons' – sex workers have struggled with financial exclusion for years

The fallout over the closure of Nigel Farage’s bank account has shed light on how financial institutions handle “politically exposed persons”, whom they may view as high-risk clients.

StockNews.com

3 Quality Financial Service Stocks to Buy TODAY

Digitalization is poised to transform every niche of the financial services industry, providing numerous growth opportunities to the industry players. Moreover, financial institutions usually benefit in a rising interest rate environment. Hence, it could be wise to buy quality financial services stocks Everi Holdings (EVRI), Medallion Financial (MFIN), and Manhattan…

Evening Standard

Political storm left NatWest chief Dame Alison Rose with no choice but to go, says chairman

NatWest capped a turbulent week with a £1 billion surge in profits

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Evening Standard

The head that should really roll at NatWest for the Farage scandal

City Voices: Howard Davies must go immediately, and frankly, the rest of his fellow, seemingly makeweight directors with him.

The Guardian - UK

NatWest chair vows to stay on to provide ‘stability’ after Farage controversy

Sir Howard Davies planning ‘orderly transition’ as bank hires lawyers to investigate account closures

The Independent UK

NatWest chairman says ‘political reaction’ led to Alison Rose’s departure

Chairman Sir Howard Davies insisted it is important for the stability of the bank that he remains on the board.

Evening Standard

Sir Howard pledges to stay at NatWest despite Nigel Farage scandal

Profits soar by £1bn -- top law firm to probe Farage affair

Evening Standard

The NatWest head that should really roll for the Farage banking farrago

City Voices: Howard Davies must go immediately, and frankly, the rest of his fellow, seemingly makeweight directors with him.

The Guardian - UK

NatWest to pay UK government £190m as Farage crisis rocks bank

Crisis-hit group plans to pay dividends worth £500m to investors after quarterly profits rise by 27%

The Independent UK

NatWest chair defies calls to quit and blames ‘political pressure’ for CEO ousting

Top bosses to face scrutiny from shareholders after turmoil hits bank’s value

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