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The Latest Breaking News from Metro Bank

Metro Bank fined £16.6m for failings over money laundering checks

The lender, which has about three million UK customers, failed to check for money laundering on millions of transactions up to 2020.

Evening Standard

UK grocery inflation picks up to 2.3%; unemployment rises while regular wage growth slows – as it happened

Consumers started their Christmas shopping early, Kantar says; UK jobless rate rises to 4.3% while wage growth excluding bonuses is at a two-year low

The Guardian - UK

FTSE 100 Live 12 November: Vodafone and AstraZeneca results fail to revive shares, Metro Bank fined £16m

Cracks are appearing in the labour market after the unemployment rate today rose to 4.3%.

Evening Standard

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read the most diverse news in one place.

Meta is partnering with UK banks to catch scammers

Meta joins up with top UK banks in an effort to crack down on scams.

TechRadar

Agatha Christie hotel scraps sale plans after securing funding for refurbishment

The property was previously listed for £15 million

The Independent UK

UK's Metro Bank Retail Cards Will Stop Working On September 10: What Happens To Your Credit Card Debt?

As Metro Bank discontinues its personal credit card service, customers will need to explore alternative spending options.

International Business Times UK

Metro Bank returns from the brink but tough road lies ahead

The challenger bank has often taken chances but a new business model positions it as more the opportunist rather than the rebel

The Guardian - UK

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APP fraud reimbursement ‘still largely depends on who victims bank with’

The Payment Systems Regulator has published authorised push payment scam reimbursement figures for banks and building societies.

The Independent UK

NatWest takes £24m hit from abandoned ‘Tell Sid’-style campaign

Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rollout

The Guardian - UK

Chief of staff to ex-Post Office chief Paula Vennells drafted email ‘to discourage investigating prosecutions’ - as it happened

Public inquiry hears Martin Edwards warned of ‘setting the hares running’ among board members as prospect of appeals against unsafe prosecutions of branch owner-operators loomed

The Guardian - UK

‘It’s very troubling’: thieves use vulnerable man to take out £28,000 bank loan

Metro Bank faces questions over safeguards and why victim was allowed to borrow such a big sum

The Guardian - UK

Metro Bank ignored my report of attempted scam

Although fraudsters gave one of its account numbers, it was totally uninterested as I was not its customer

The Guardian - UK

Bank of England investigating claim Metro Bank put customers’ data at risk

Exclusive: Whistleblower raised concerns about security of in-branch coin-counter software

The Guardian - UK

Metro Bank increases job cuts to 1,000 and ends seven-day branch model

Lender nearly triples size of cost-cutting plan to £80m after autumn rescue deal

The Guardian - UK

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The Guardian - UK

‘I was in despair’: how lending a phone led to life savings being stolen

Thief went on £9,000 spree with the victim’s money before using her Uber account to travel to Stansted

The Guardian - UK

‘I’m still proud of what we created’: Metro Bank’s 14-year rollercoaster ride

From its lavish launch parties to a 2019 accounting scandal, the UK challenger bank has been beset by controversy

Evening Standard

Nationwide 'out in the cold', brokers say, as it stays out of mortgage rate price war for now

Metro Bank and TSB were among the latest lenders to cut rates

The Guardian - UK

Treasury to end oversight of £425m scheme to help banks after RBS bailout

Body monitoring use of money given to challenger banks to promote competition to be wound down despite objectives not met

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The Guardian - UK

Metro Bank to cut about 800 jobs and review opening hours

Lender to ramp up cost-cutting plans after rescue deal and assess seven-days-a-week branch model

The Independent UK

Metro Bank axing fifth of workers and reviewing seven-day opening

The troubled high street lender said the moves are part of plans to ramp up cost savings to £50m a year.

The Guardian - UK

Metro Bank rescue deal can go ahead after shareholders back it

Jaime Gilinski Bacal to increase stake to 53% as lender secures £325m in new capital and £600m of debt

Evening Standard

Metro Bank says outflows return to normal after £325 million rescue deal

SAVERS were pulling money out of Metro Bank in fear of the bank’s safety ahead of a £325 million fund raiser in October.

The Independent UK

Banks’ performance in dealing with APP scam victims revealed by regulator

The Payment Systems Regulator said there are inconsistent outcomes for customers who report an APP scam to their bank or building society.

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

The Conversation

Bank CEOs set the tone from the top when it comes to risky behaviour — new research

Metro Bank positioned itself as “a fresh start to banking” when it launched in the wake of the 2008 global financial crisis. It was set up in 2010 as a challenger to the “big five” banks dominating the UK market post-crisis: HSBC, NatWest, Lloyds, Barclays and Santander.

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Margherita Della Valle

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