Treasury questions payments regulator on deadline for controversial fraud refund rules August 13, 2024 The Treasury has reportedly raised questions with the UK payments regulator over the timetable for its new fraud refund rules that have stirred alarm among banks and fintechs.
S&U: Motor finance lender urges Labour to change ‘restrictive’ regulation after profit warning August 12, 2024 Specialist lender S&U has urged the new Labour government to change the UK's "restrictive and constantly changing" regulatory regime after warning that actions by the City watchdog would have a "significant impact" on its motor finance business' profits.
HSBC pledges not to close more branches until 2026 August 11, 2024 HSBC has pledged not to close any more of its branches until at least 2026 as regulators and politicians ramp up efforts to ensure access to cash and in-person banking services.
Citi set to become latest Wall Street bank to scrap UK bonus cap August 11, 2024 Wall Street giant Citigroup is set to become the latest US bank to remove an EU-imposed bonus cap for hundreds of its top London staff, following in the footsteps of its biggest rivals.
Barclays joins Wall Street rivals in scrapping EU bonus cap August 8, 2024 Barclays has become the first UK bank to remove an EU-imposed cap on bonuses for some of its top bankers and traders, bringing the firm's policies on variable pay closer to its Wall Street rivals.
British Business Bank posts second straight loss as tech valuations struggle August 8, 2024 State-owned lender the British Business Bank has recorded a second straight annual loss as a decline in start-up valuations weighed on its financial performance.
Shawbrook: Underlying profit dips as challenger bank’s margins narrow August 8, 2024 Challenger bank Shawbrook has reported a dip in underlying profit for the first half of 2024 as looming interest rate cuts from the Bank of England narrowed its lending margins.
GB Bank: Property finance specialist moves headquarters to London amid rapid expansion August 7, 2024 Property finance specialist GB Bank is moving its headquarters from Middlesborough to London in a bid to grow its presence in the capital and South East.
Exclusive: Tories spent £10m exploring scrapped Natwest retail offer August 7, 2024 The Conservative government spent around £10m exploring a now-scrapped plan to sell part of its stake in Natwest to retail investors, with the bank footing most of the bill, Morning Wire can reveal.
UK fintech investment almost triples in first half of 2024 as sector outperforms Europe August 6, 2024 Investment in the UK's fintech sector almost tripled in the first half of 2024, new data shows, as a slew of major deals helped the country retain its title as the centre of European fintech funding.