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The Latest Breaking News on Financial Services

Forex kitty soars $11 billion to $561.16 billion

MUMBAI: India's foreign exchange reserves soared by $11.02 billion to reach $561.162 billion for the week ended December 2, Reserve Bank data showed on Friday.

The Times of India

UK banking rules set for biggest shake-up in 30 years as Jeremy Hunt axes EU red tape

Jeremy Hunt has announced a package of more than 30 regulatory changes - known as the "Edinburgh Reforms" - which will replace EU regulation and "cut red tape" following Brexit

Daily Mirror

Mortgage rates fell for the fourth straight week

One economist is calling the top

Axios

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Pakistan central bank’s forex reserves fall to near four-year low

Announcement by the State Bank of Pakistan comes as the country is in dire need of foreign aid.

Al Jazeera

Santander fined £100million for money laundering failures - with 560,000 accounts affected

The Financial Conduct Authority (FCA) the bank "failed to properly oversee and manage" systems aimed at verifying information - with more than 560,000 business customers affected

Daily Mirror

Cook County’s chief judge investigating court employees who got COVID-19 relief loans

Four workers in other county departments have quit or been fired this year while under suspicion of defrauding the federal Paycheck Protection Program.

Chicago Sun-Times

Santander UK fined £108m over anti-money laundering failings

Financial Conduct Authority found ‘serious and persistent gaps’ in bank’s controls

The Guardian - UK

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UK to ease financial regulations in post-Brexit shakeup

Britain is easing banking rules brought in after the 2008 global financial crisis in a bid to attract investment and secure London’s status as Europe’s leading finance center

The Independent UK

Santander hit with fine over ‘serious and persistent’ money laundering failures

SANTANDER was today whacked with a £108 million fine for what the Citywatchdog called “serious and persistent” money laundering failures.

Evening Standard

UK Government lays out plans to use 'Brexit freedoms' for 'Edinburgh Reforms'

THE UK Government has announced plans to use "Brexit freedoms" to launch a raft of major reforms to the financial sector to replace EU…

The National (Scotland)

Santander hit with huge fine over 'ineffective' failings

The financial watchdog penalised the major bank over gaps in its anti money laundering controls

Liverpool Echo

Santander fined £107 million for anti-money laundering failures

More than half a million UK business banking customers were subject to poor account oversight

Insider UK

Jeremy Hunt’s City deregulation plans are ‘dangerous’ mistake, warns expert

Sir John Vickers, architect of post-2008 banking reforms, says plans put UK financial stability at risk

The Guardian - UK

UK to cut finance red tape and axe EU rules in bid for growth

The Chancellor is in Edinburgh to announce major reforms of UK financial services regulation

Insider UK

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Wales Online

Santander fined £107.8m by finance watchdog over money laundering failings

The failures impacted the oversight of more than 560,000 business customers

The Independent UK

Jeremy Hunt launches post-Brexit plan to rip up EU banking red tape

Brussels’ rules ‘choking’ economic growth, claims chancellor – vowing to ‘seize Brexit freedoms’

Bangkok Post

Gang forged bank, salary statements used for loan fraud

Police have arrested two men and two women for the forgery of bank and salary statements used to defraud loan companies of about 20 million baht.

The Independent UK

Asian shares advance on back of Wall Street gains

Shares are higher in Asia after an advance on Wall Street led by the latest rally in technology companies

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Daily Mirror

Full list of bank closures coming in 2023 and 2024 - including HSBC, Lloyds and Barclays

Banks and building societies have closed, or have scheduled to close, a total of 5,695 branches since January 2015 - so which lenders have already announced they will close sites for good in 2023?

AAP

Lenders tempting borrowers to jump ship

Three of the big four lenders are pulling out all the stops to attract new customers by offering discounted deals and cash sweeteners.

Caixin Global

Weekly Must-Read: China’s ‘Zero-Covid’ Looks Done. So, What to Expect Next?

Vaccination campaign for the elderly gets rebooted and switch to home quarantine for close contacts and self-testing gathers pace across the country

Reuters

'It's dead out here': China's slow exit from zero-COVID

Judging by Friday's quiet streets in China's capital Beijing and the reluctance of some businesses to drop COVID curbs, enduring anxieties about the coronavirus are likely to hamper a speedy return to health for the world's second-largest economy.

The Independent UK

TSB launches emergency flee fund for people experiencing domestic abuse

People will be able to get support payments of £50 to £500, depending on their need.

The Independent UK

Florida lawmaker behind ‘Don’t Say Gay’ bill resigns after federal indictment for money laundering

Republican state representative is accused of fraudulently applying for Covid-19 aid governent loans

Tribune News Service

Florida lawmaker who sponsored 'don't say gay' bill resigns after federal indictment for wire fraud

TAMPA, Fla. — One day after being indicted on charges of money laundering and wire fraud, state Rep. Joe Harding, R-Ocala, announced his resignation from Florida’s House of Representatives.

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