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The Latest Breaking News on Financial Services

U.S.-Sanctioned Mexican Bank Begins Liquidation After Having License Revoked

On Oct. 10, Mexico's Bank Savings Protection Institute (IPAB) announced that CIBanco's license was revoked due to suspected money laundering linked to drug trafficking, as alleged by U.S. authorities in June.

Latin Times

Lloyds challenges car loan compensation bill as it warns of £2bn hit

The high street banking giant raised concerns about the Financial Conduct Authority’s calculations for how much consumers lost out.

Evening Standard

Lloyds warns motor finance scandal could cost it nearly £2bn as bill rises

Banking group puts aside extra £800m for compensation claims amid potential for more ‘historical cases’

The Guardian - UK

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Lloyds lifts motor finance provision to almost £2 billion

Lloyds, the biggest player in the motor finance sector through its Black Horse division, had already put aside £1.15 billion

Evening Standard

FTSE 100 Live 13 October: Lloyds shares up despite new provision, miners lift index

Lloyds Banking Group today made a big increase to the amount it will need to cover motor finance mis-selling compensation.

Evening Standard

Credit Cards That Actually Reward Your Loyalty

If you have bank or investment accounts with your credit card issuer, you may qualify for extra cash back, waived fees and other benefits.

Kiplinger

How To Earn $500 A Month From JPMorgan Stock Ahead Of Q3 Earnings

JPMorgan Chase Co. (NYSE:JPM) will release earnings results for the third quarter before the opening bell on Tuesday, Oct. 14.

Benzinga

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JP Morgan staff told they must share biometric data to access headquarters

Investment bank had previously planned for such information from New York workers to be voluntary

The Guardian - UK

No Bank Account? Your IRS Refund Could Vanish Into Limbo

Millions of Americans risk losing access to their tax refunds as the IRS moves to phase out paper cheques and require direct deposit or digital payments from September 2025.

International Business Times UK

Starmer calls for ‘national debate’ on digital ID in bid to expand technology

Sir Keir defended what he described as the scheme’s ‘huge benefits’ after polls suggested public support for the proposals had plummeted.

Evening Standard

Head of largest US bank warns of risk of American stock market crash

Jamie Dimon, chair of JPMorgan Chase, said he was ‘far more worried than others’ about serious market correction

The Guardian - UK

Lloyds says it is facing greater hit than expected from car loan finance scandal

Banking group predicts bill will top £1.2bn it has set aside, as Close Brothers also says it expects to pay more

The Guardian - UK

Metro Bank outage causes issues with customer accounts

Are you one of the customers affected?

Evening Standard

Metro Bank customers see red after IT glitch empties accounts

Bank apologises for payments delay that led to angry complaints about ‘negative balances and missing funds’

The Guardian - UK

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The Guardian - UK

As London stock market listings show signs of life, Reeves must add momentum

With tentative signs of a revival in IPOs, the chancellor should use the moment to cut the 0.5% charge on share purchases

International Business Times

Fifth Third To Acquire Comerica In $10.9 Billion All-Stock Deal

Post-merger, Fifth Third shareholders will own about 73% of the combined entity, while Comerica shareholders will hold 27%.

Benzinga

Affluent Americans Boost Charitable Giving By 30% In A Decade, Even As Fewer Households Donate, Finds Bank Of America

Charitable giving among America's wealthiest households has grown 30% in the past decade, even as fewer of them are donating, according to the 2025 Bank of America Study of Philanthropy.

The Guardian - UK

Banking industry’s net zero alliance shuts down amid faltering climate commitments

NZBA had nearly 150 members but banks began leaving when Trump was re-elected on promise to ‘drill, baby, drill’

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International Business Times

UN-backed Climate Banking Alliance Ceases Operations

The Net-Zero Banking Alliance, a UN-backed initiative seeking carbon neutral investments by banks, announced Friday its immediate shutdown -- at a time of faltering climate commitments in the United States and Europe.

The Independent UK

Some of UK’s biggest banks ‘investing ever larger sums into fossil fuels’

Which’s analysis follows research finding that the world’s biggest banks significantly increased their fossil fuel finance in 2024.

The Independent UK

Lloyds set to take control of Schroders wealth tie-up in ‘mass affluent’ push

The banking group is considering buying out Schroders’ 49.9% stake in Schroders Personal Wealth (SPW).

AAP

Overheated share markets may risk financial meltdown

Australia's central bank warns overpriced stock markets, cyber threats and weakness in China threatens the nation's financial stability.

Evening Standard

South London residents rally to save their community's last remaining bank

New Addington locals have taken to social media and signed petitions in opposition to the closure of the Lloyds branch

The Independent UK

South Carolina prosecutor seeks death penalty in murder case after Biden reduced sentence to life

A local prosecutor in South Carolina plans to seek the death penalty against a man whose federal death sentence for killing two bank employees was commuted to life in prison by President Joe Biden

Kiplinger

If You'd Put $1,000 Into Bank of America Stock 20 Years Ago, Here's What You'd Have Today

Bank of America stock has been a massive buy-and-hold bust.

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