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The Latest Breaking News on Financial Services

Bank of America says the problem with Zelle transactions is resolved

The website Downdetector reported spikes in outages involving Bank of America and payment platform Zelle starting Wednesday morning.

WEKU

Zelle users report outage with bank-to-bank payment system

On Wednesday, Bank of America customers complained on Twitter about missing money

The Independent UK

Lloyds Bank warns customers could lose £642 as online scams increase

Online shopping scams increased by 20% in December last year

Nottingham Post

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DWP in urgent warning over £900 cost of living payment scammers

Officials said that unscrupulous criminals were cynically targeting people to try and get their bank details.

Nottingham Post

Ex-Barclays boss saw Jeffrey Epstein abuse young women, US lawsuit claims

Suit filed by victim against JP Morgan alleges Jes Staley knew of trafficking of young women and witnessed sexual abuse

The Guardian - UK

India 'strongly supports' Sri Lanka debt restructuring plan, it tells IMF

India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters.

Reuters

Barclays announces closure of 15 branches across UK as customers 'embrace online banking'

Have a look to see if your local bank branch will be closing this year

Wales Online

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Outstanding credit card balances jumped by 10.1% annually in October

There were 11.3% more credit card transactions in October 2022 than in October 2021, according to figures from UK Finance.

The Independent UK

TSB to close Nottinghamshire branch in May as 'more people use online banking'

TSB will also be closing eight other branches across the UK by May 2023

Nottingham Post

TSB to shut nine more bank branches this year - see full list of affected places

TSB currently has 220 branches in the UK - after these latest closures, which are happening throughout May 2023, that number will fall to 211

Daily Mirror

Launch date for new £130m Wales fund from the British Business Bank

Chief executive of the British Business Bank Louis Taylor said the fund would help plug the equity gap in Wales

Birmingham Post

Scottish Friendly appoints new chief operating officer

New hire comes from senior technology and operations roles at various financial services firms

Insider UK

'No dominant model' for hybrid work has yet emerged

A new survey of the financial and professional services sector finds most firms are not enforcing minimum number of office days

Insider UK

IMF executive board approves $240 million disbursement to Uganda

The International Monetary Fund (IMF) said on Tuesday its executive board approved two reviews of a financing agreement with Uganda that allow for the immediate release of about $240 million to the East African country.

Reuters

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Bangkok Post

Determining the future of virtual banking

The Bank of Thailand has issued a consultation paper for the virtual bank licensing framework as part of its hearings into the creation of virtual banks as new financial service providers. Below are details about virtual banks listed in the paper and frequently asked questions.

Tribune News Service

Jes Staley ‘personally observed’ Epstein’s abuse, woman suing JPMorgan claims

A woman suing JPMorgan Chase & Co. for facilitating her sexual abuse by Jeffrey Epstein is claiming Jes Staley “personally observed” that abuse when he was the bank’s head of private wealth.

Liverpool Echo

New B&M store plan could bring 40 jobs to Southport

But concerns have been raised the store could relocate from its existing Lord Street shop

Liverpool Echo

Former Bootle tax office could be demolished to make way for warehouse

Plans were submitted to Sefton Council last week

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Bristol Post

Hundreds oppose plans for new betting shop in Staple Hill

Residents are objecting to a planning application to convert an old bank on the high street into a betting shop

Birmingham Post

Full list of the Barclays banks set to close this year as 15 more confirmed

The closures are expected to take place from April

Daily Mirror

Barclays to shut 15 more banks this year - see full list of affected branches

The latest closures comes on top of 11 sites already earmarked by Barclays in 2023 - taking the total number of banks set to close their doors for good this year to 26

Reuters

U.S. Supreme Court mulls Turkish lender Halkbank's bid to avoid charges

U.S. Supreme Court justices on Tuesday grappled with thorny questions of sovereign immunity as they weighed a bid by Turkey's state-owned lender Halkbank to avoid criminal charges in the United States for allegedly helping Iran evade American economic sanctions. The nine justices heard arguments in Halkbank's appeal of a lower…

Reuters

U.S.-China friction stokes concern among some top finance bosses

The bosses of global investor Fidelity International and accountancy giant EY have voiced concerns about a fracturing of relations between the U.S. and China, speaking at the World Economic Forum in Davos on Tuesday.

The Times of India

IMF bailout: India to back Sri Lanka's debt restructuring plan

NEW DELHI: India formally notified that it would support Sri Lanka’s debt restructuring plan, according to a person with knowledge of the matter, clearing a major hurdle for the bankrupt nation to unlock a $2.9 billion bailout from the International Monetary Fund.

Liverpool Echo

Lloyds Bank issues £642 warning to all customers

Lloyds Bank is warning people to be vigilant

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