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The Latest Breaking News on Financial Services

Bank rule changes after Nigel Farage furore could tip off criminals, say experts

Plans to make closure of accounts more transparent may ‘undermine’ measures against money laundering

The Guardian - UK

Rozgar Mela: PM Modi distributes over 70,000 appointment letters to newly inducted recruits

Prime Minister Narendra Modi on Saturday distributed more than 70,000 appointment letters to newly inducted recruits via video conferencing. Read further on Dynamite News:

Dynamite News

Credit cards: new UK rules could mean end of O% interest deals

Regulations could allow wider access to online-only bank accounts – but no-fee balance transfer deals may have to go

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Boris Johnson says Natwest boss must quit if she leaked Nigel Farage’s account details

The former prime minister called for an inquiry into reporting on the Farage account closure row

The Independent UK

After 30 years of court battle, his wait for justice continues

Retired exec. Pillai, falsely implicated in gold theft case 30 yrs ago, now stands as witness. After inhuman torture & false evidence, Pillai was acquitted by court in 2021.

The Hindu

Pressure builds on Coutts CEO over claims he kept his NatWest boss in the dark over Farage fiasco

Insiders say Peter Flavel did not do enough to keep Dame Alison Rose fully updated

The Independent UK

Nigel Farage says NatWest chief’s apology is ‘a start, but it’s no more than that’

Dame Alison Rose apologises to former Ukip and Brexit Party leaderfor ‘deeply inappropriate comments’

The Independent UK

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Former Telecom and Bank Executive Stands Trial for Taking $9 Million in Bribes

Li Guohua entered a guilty plea to charges of bribery and abuse of power

Caixin Global

Local Financial Regulatory Bodies Announce Names Changes in Sweeping Overhaul

Switch affects almost 350 local branches under the now-defunct CBIRC

Caixin Global

Farage affair is ‘a monumental PR disaster’ for exclusive bank Coutts

Private lender’s reputation is at risk after decision to cut ties with former Ukip leader and comments about him

The Guardian - UK

UK banking boss apologizes to populist politician Farage over the closure of his account

The chief executive of U.K. bank NatWest Group has apologized to populist politician Nigel Farage after he complained that his bank account was shut down because the banking group didn’t agree with his political views

The Independent UK

Bank account closures: what new rules mean for UK customers

Under Treasury proposals, lenders will have to explain why they shut accounts and give 90 days’ notice

The Guardian - UK

Nigel Farage receives apology from Coutts after bank account closure row

Ministers will make it harder to close accounts after former UKIP leader’s spat with Coutts

Evening Standard

Bank Stocks: Regional Banks Mixed As Reports Roll In; Truist Delivers Rare Sector Miss

Regional bank stocks largely rallied early Thursday as quarterly results roll in. Zions beat forecasts, Truist delivered a rare sector miss.

Investors Business Daily

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news in one place.

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Kiplinger

The Fed Launches Real-Time Payments System: Kiplinger Economic Forecasts

FedNow, the Federal Reserve's real-time payment system works with banks and service providers to facilitate instant transactions 24 hours a day, 365 days a year.

The Independent UK

Bank’s licence could be ‘revoked’ in UK for banning customers over their political views

It comes after Nigel Farage’s banks accounts were closed by Coutts because his views ‘did not align with’ the bank’s values

AAP

Event manager jailed 8 years for $19m fraud against NAB

Helen Rosamond defrauded the NAB of millions, paying kickbacks to a chief-of-staff who extended her contracts and paid her fake invoices for nearly five years.

The Independent UK

Banks ‘could lose licences for banning customers over their political views’

It comes after Nigel Farage’s banks accounts were closed by Coutts because his views ‘did not align with’ the bank’s values.

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news in one place.

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The Guardian - UK

What are the UK rules on access to banking and how are disputes settled?

Everyone has a right to a basic account but banks can deny customers additional services

The Hindu

ED conducts searches in Jet Airways case

ED searches multiple locations in Mumbai and Delhi in money laundering case related to Jet Airways. FIR registered by CBI. Company defaulted on payment and lenders initiated resolution exercise. Loan accounts of ₹728.66 crore, incl. ₹538.62 crore to Canara Bank, declared fraud.

StockNews.com

Bank of America (BAC): What Should Investors Do With the Stock?

Bank of America (BAC), the second-largest U.S. bank by assets, beat Street revenue and earnings estimates in the second quarter but is stuck with more than $105 billion in unrealized losses. Moreover, the bank was slapped with refunds and fines worth $250 million earlier this month. In this piece, I…

Zenger

Bank Of America CEO Highlights Stable Deposits And Healthy Consumers Amid Strong Quarterly Results

BofA's Q2 revenue beats estimates, client balances climb and loan demand remains steady.

StockNews.com

Top 3 Bank Stocks in a B-Rated Industry

The regional banking collapse continues to cause economic concern despite the Fed’s efforts to strengthen the system's resilience. Thus, it could be wise to venture beyond national borders and invest in robust stocks Banco Santander (SAN), Banco Bilbao Vizcaya Argentaria (BBVA), and KB Financial Group (KB) that belong to the…

The Hindu

Eye on Emirati flows: on the new India-UAE framework and rupee-dirham transactions

The India-UAE local currency settlement system could serve as a precursor for other bilateral currency accords and help in the internationalisation of the rupee

Zenger

U.S. Virgin Islands Seeks $190M From JPMorgan In Epstein Sex Trafficking Case

Territory demands minimum payment and policy changes to hold bank accountable.

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