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The Latest Breaking News on Financial Services

Credit Suisse Collapse Probe Slams Banking Regulator

Switzerland's financial regulator was ineffective in tackling the scandals at Credit Suisse, where executive mismanagement scuppered the bank and nearly triggered a global financial crisis, a Swiss inquiry concluded Friday.

International Business Times

City watchdog extends motor finance complaints deadline to next December

The extension follows a landmark Court of Appeal ruling in October.

The Independent UK

UniCredit Ups Pressure On Commerzbank, Fuelling German Anger

Italian bank UniCredit said Wednesday it had boosted its stake in Germany's Commerzbank, intensifying takeover speculation and sparking condemnation from Berlin of an "unfriendly" move at a time the country is in political limbo.

International Business Times

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Lloyds advert banned for making false environmental claims

Watchdog ruled social media post failed to provide balanced information over bank’s ongoing financing of polluting industries

The Guardian - UK

Big banks urged to step up on sustainable finance in 2025

ShareAction warned the banks they can expect to see shareholder action next year if they fail to meet investor expectations for greener practices.

The Independent UK

Japan's largest bank apologizes over theft of millions of dollars from safe deposit boxes

Japan’s biggest bank has apologized after an employee allegedly stole more than 1 billion yen ($6.6 million) from customers' safe deposit boxes

The Independent UK

Chalmers unveils new look Reserve Bank, with women in the majority on both its boards

A person with long experience in the financial services sector, Marnie Baker, and a distinguished academic economist, Renée Fry-McKibbin, have been appointed to serve on the Reserve Bank’s new monetary policy board:

The Conversation

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Jim Chalmers reveals two appointments to Reserve Bank’s new board tasked with setting interest rates

Renée Fry-McKibbin and Marnie Baker will sit on the RBA’s new board, which follows the government’s reform of the central bank

The Guardian - AU

Scams lawsuit sends a message to Australia's banks

The corporate cop has put the nation's banks on notice after filing a civil case against HSBC Australia over its alleged failure to stop $23 million in scams.

AAP

Bank Holiday today: Know banks are open or closed on Dec 14?

December 14, 2024, marks the second Saturday when banks across India will be closed. Read further on Dynamite News:

Dynamite News

Reeves says towns risk becoming ‘banking deserts’ as she sticks to hubs target

The Chancellor insisted the Government’s target for 350 banking hubs was a ‘massive ramp-up’ of previous plans.

The Independent UK

Mumbai: RBI receives bomb threat in Russian, probe underway

The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Read further on Dynamite News:

Dynamite News

The White House is cracking down on overdraft fees

The Consumer Financial Protection Bureau is capping the fees at $5 with a rule set to take effect in October 2025, if it isn't overturned by Congress or altered under a Trump administration

The Independent UK

Sir Keir Starmer ‘raised human rights’ with UAE amid efforts to free UK prisoner

Ryan Cornelius was originally detained in the UAE for 10 years as part of a bank fraud case, but his detention was extended by 20 years.

The Independent UK

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Dynamite News

CBI arrests Indian bank panel advocate in Kolhapur for accepting Rs 1.70 Lakh bribe

The advocate had initially demanded a bribe of Rs2.5 lakh, which was later negotiated down to Rs1.70 lakh, in exchange for deferring the possession of a mortgaged property under the SARFAESI Act. Read further on Dynamite News:

International Business Times

Cash Crunch Fuels Rising Misgivings Against Nigeria's Money Agents

Mobile money agents have become a familiar sight across Nigeria, using handy point-of-sale machines to provide essential services to millions of people without access to banking, particularly in hard-to-reach rural areas.

The Conversation

At first glance, Australia’s new treaty with Nauru seems to be a win-win. But questions remain

At first blush, today’s announcement that Australia and Nauru have signed a security treaty offers something for both countries. Australia increases its influence in a region in which it feels threatened by China. Nauru receives economic assistance and reliable banking services.

AAP

China locked out of Nauru security in Australian pact

Australia needs to agree to Nauru entering a security or banking agreement with a third country after signing a treaty to prop up the Pacific nation's budget.

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International Business Times UK

Japanese Bank Officials Volunteer 30% Pay Cut For 3 Months After Ex-Worker Steals Money and Burns Client's Home

The leadership of Japanese bank Nomura has agreed to take a temporary pay cut in order to atone for the actions of an employee who has been charged with attempting to murder and rob clients.

International Business Times

World Bank Announces Record $100 Bn Support For World's Poorest Countries

The World Bank announced Thursday that it has raised close to $24 billion to provide loans and grants for some of the world's poorest nations, which it can leverage to generate a record $100 billion in total spending power.

AAP

Calls for leniency over 'inept' attempts to fleece bank

A group's attempts to defraud a major bank out of more than $20 million have been described as rudimentary and doomed to fail.

Benzinga

Breaking Down M&T Bank: 15 Analysts Share Their Views

During the last three months, 15 analysts shared their evaluations of MT Bank (NYSE:MTB), revealing diverse outlooks from bullish to bearish.

International Business Times

Huge Vietnam Fraud Case Raises Questions Over Banking System

A multi-billion-dollar fraud scandal involving one of Vietnam's most prominent tycoons exposed systemic weaknesses in the country's banking sector, say analysts who warn other such cases could yet emerge.

Crikey

Labor acts like a one-term government in failing to block CommBank’s cashgrab

The Albanese government should have responded to the Commonwealth Bank’s new withdrawal charges with threats of immediate reprisal.

Crikey

Labor’s limp rebuke of CommBank’s cash-grab is the act of a one-term government

The Albanese government should have responded to the Commonwealth Bank’s new withdrawal charges with threats of immediate reprisal.

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