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The Latest Breaking News on Financial Services

Stock Market Today: Stocks Rise Ahead of Next Inflation Update

The major indexes notched modest gains for a second straight day.

Kiplinger

In the wake of SVB collapse, the White House is calling for new rules for regional banks

The administration wants to reverse some Trump-era policies

Axios

Scammers can disguise their number so it looks like your bank is calling — here are red flags to watch for

Your phone says the call is coming from your bank, the caller knows your address and they're using the same language a banker would use, but it feels off. Here's why it might be a scammer.

ABC News

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Biden pick Ajay Banga cleared to take top job at World Bank

The Biden administration’s choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job

The Independent UK

ICJ orders US to pay compensation for freezing Iranian assets

In a blow for Iran, however, the UN court said it didn’t have jurisdiction over frozen assets from Iran’s central bank.

Al Jazeera

Yellen seeking more regulation in aftermath of bank collapse

Weeks after the failure of two banks, Treasury Secretary Janet Yellen is planning to call Thursday for tighter financial regulations

The Independent UK

Glasgow bank branches 'condemned' by closure including Bank of Scotland and Barclays

Multiple bank branches in and around Glasgow are set to shut down as the number of physical banks continues to fall. This include branches for Bank of Scotland, Royal Bank of Scotland and Barclays.

Glasgow Live

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NatWest and Lloyds to axe a further 81 bank branches

Banks say customers are rejecting traditional counter services in favour of online banking

The Guardian - UK

Biden Eyes New Regulations As Congress Dives Into Silicon Valley, Signature Bank Failures

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

Zenger

Credit Suisse helped rich dodge taxes

"Republican budget cuts have decimated the IRS's ability to root out this kind of offshore tax evasion scheme"

Salon

Top UN court rejects Iranian bid to free assets frozen by US

The United Nations’ top court has rejected Tehran’s legal bid to free up some $2 billion in Iranian central bank assets frozen by U.S. authorities to be paid in compensation to victims of a 1983 bombing in Lebanon and other attacks linked to Iran

The Independent UK

Full list of banks closing in Scotland in 2023 - check for your local branch

There are a number of bank branch and building society closures scheduled throughout 2023, so it is important to check your branch and any alternatives that may be available.

Daily Record

Porthcawl to get its own banking hub

The investment by LINK follows announcements to closure the town's two remaining bank branches

Birmingham Post

Lloyds, Halifax, NatWest and two other banks to shut another 80 branches - see full list

Bank closures have become the norm over the last few years as more people choose to do their banking online rather than in a branch

Daily Mirror

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Manchester Evening News

Plans to turn bank into bedsits compared to 'sardines' - but it's still going ahead

Proposals for the old Barclays branch, in Edgeley, have been approved by Stockport council’s planning committee.

Daily Record

Kilwinning to receive new banking hub thanks to locals’ requests

The banking hub in Kilwinning will offer basic counter services, allowing people to withdraw cash, collect change, deposit cheques, pay bills and make balance enquiries.

Chicago Sun-Times

Credit Suisse violates deal on rich clients’ tax evasion

The Senate Finance Committee finds that troubled Credit Suisse failed to report secret accounts held by U.S. citizens trying to avoid paying taxes.

Tribune News Service

Bipartisan group of senators offer clawback bill for bank failures

WASHINGTON — A bipartisan group of senators released draft legislation Wednesday that would claw back executive pay in the five years leading up to a bank’s failure, following President Joe Biden’s call on Congress to take action.

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Wales Online

The large Welsh town which is losing its very last bank as Lloyds confirms it's pulling out

The decision has been described as 'disappointing and short-sighted'

ABC News

The Reserve Bank doesn't need an overhaul, Australia needs fairer policies, says former governor

Former governor Bernie Fraser says the Reserve Bank of Australia's attempt to improve the welfare of all Australians has been undermined by decades of neoliberalism.

The Conversation

Federal budget 2023: Long-term investments are needed to fix Canada’s infrastructure gap

The federal government’s 2023 budget unveiled investments in infrastructure, with a narrative highlighting resilient and sustainable communities, and pointing to Ottawa’s progress and investments to date.

Tribune News Service

Fed’s Barr acknowledges oversight lapses before SVB failure

The Federal Reserve’s top bank regulator on Wednesday said that supervisors could have done more to keep tabs on Silicon Valley Bank before it collapsed earlier this month.

Bristol Post

NatWest closures: Two Bristol banks to shut in 'disastrous decision' for community

"The rationale behind this closure is all too familiar"

The Independent UK

£2bn poured into NS&I as savers seek security on deposits

The Guardian - UK

Bank of England calls for tougher pension scheme rules after crisis

Bank wants to avoid repeat of situation that followed Kwasi Kwarteng’s calamitous mini-budget

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