Banks
Wheatley warns banks they have 18 months to stop mis-sellingMartin Wheatley, head of the Financial Services Authority said in a speech today that UK banks have 18 months to prove they no longer mis-sell products or face "intrusive" action. |
PPI drives massive increase in banking complaintsNew figures show a big increase in complaints at all the main UK banks but if PPI complaints are discounted Lloyds, HSBC and Barclays are seeing a fall in complaints. |
UK banks 'face further £1bn bill for PPI mis-selling'The UK’s top four banks look set to announce a further £1 billion of charges for mis-selling payment protection insurance (PPI). |
The Co-op to buy 632 Lloyds bank branchesLloyds Banking Group has agreed terms with The Co-operative Group to sell 632 of its branches in a deal worth up to £750 million. |
Don’t let Libor emotion sway investments, says Schroder’s MurphyIvestors shouldn’t let emotions get in the way of their decisions following the Libor rigging revelations, according to the co-manager of Schroder Income. |
Libor fines could total $22bn after 11 more banks hit by scandalAs many as 12 global banks could be hit with fines totalling almost $22 billion (£15 million), for alleged interest rate rigging, it has emerged. |
Miliband: Banks should sell 1,000 branches to boost competitionEd Miliband is to call for a major overhaul of the banking industry, including urging Britain’s five main banks to sell 1,000 branches to increase competition. |
Bank switch searches soar as consumers vote with their feetThe number of searches on MoneySupermarket by consumers looking to move bank accounts has leapt by 25 per cent in the wake of the recent banking catastrophes. |
Bankers should be prosecuted for breaking the law, say BritsFour out of five people in the UK want individuals to be prosecuted if banks break the law, a new survey by Which? reveals. |
"Big four" banks agree to £6b fine for mis-selling to SME'sThe "big four" banks, HSBC, Lloyds, RBS and Barclays have agreed to repay customers up to £6b for mis-selling interest rate swaps to small and medium sized businesses. |
FSA review to reveal evidence of serious mis-selling to SMEsThe Financial Services Authority (FSA) is set to reveal “systematic” mis-selling of complex interest rate swaps to businesses by UK banks. |
Moody's downgrades credit ratings of 15 major banksMoody's has downgraded the credit rating of 15 major global banks including several UK banks potentially driving up the cost of borrowing for UK customers. |
Central banks buy up gold as safe haven from EuroCentral banks in emerging economies are snapping up gold as a safe haven against the potential collapse of the Eurozone, latest IMF figures indicate. |
FSA: Banks must clearly display deposit compensation detailsThe FSA has demanded that banks and building societies must display information explaining to customers which deposit guarantee scheme applies to their deposits. |
'Free' banking costs UK customers "£9bn a year"The Chairman of the Treasury Select Committee, Andrew Tyrie MP says regulators should "remove obstacles stopping banks from charging." |
Loyalty costing consumers £780 a year, site warnsConsumers would be better off mixing and matching financial products rather than sticking with the same provider for everything, according to MoneySupermarket. |
Clydesdale and Yorkshire Banks to cull 1,400 jobsThe Clydesdale and Yorkshire Banks are to shed 1,400 jobs. National Australia Bank (NAB), the banks’ owner, said the posts would be axed by 2015. |
Co-op in crunch talks as bid for Lloyds branches faltersThe Co-operative Group is set to hold crunch talks this week amid concerns it may withdraw from a £1.5 billion deal to buy 632 Lloyds branches. |
Bank of England member warns over new financial crisis riskA senior member of the Bank of England’s financial policy committee has warned that the culture within banks needs to change to prevent another fiscal disaster. |
Further job losses expected in banking sectorThe UK’s five biggest banks are to cut more jobs after profits were hammered by PPI claims, the euro debt crisis and higher regulatory costs, a report reveals. |
RBS and Lloyds to cut another 1,900 jobsPart state owned banks RBS and Lloyds have announced they are to shed a total of 1,900 jobs. Trade union Unite has called on the Government to intervene. |
Treasury to quiz banks over interest rate swap mis-sellingThe Treasury is investigating a new potential mis-selling scandal in which banks sold complex derivative products to firms on the back of loans sold to protect against higher interest rates. |
New Barclays bonus row as Diamond in line for £4m payoutBarclays is set to take centre stage in the bankers’ bonus row again this week when it reveals a payout of up to £4 million for chief executive Bob Diamond. |
King: 'Labour was unwilling to take on the banks'The Governor of the Bank of England, Sir Mervyn King launched a scathing attack on the previous Labour government for allowing banks to influence policy after the credit crunch. |
Lloyds bosses in line for £2.2m HBOS bonus potFour of the ten senior executives at Lloyds who had part of their 2010 bonuses clawed back as a result of the PPI scandal could be in line for share bonuses of £2.2m for the takeover of HBOS. |