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The Latest Breaking News on Financial Services

NatWest boss Alison Rose resigns over Nigel Farage Coutts accounts row

Bank’s first female chief executive steps down after admitting being the source of BBC story about former Ukip leader

The Guardian - UK

NatWest CEO admits ‘serious error’ of discussing Farage bank accounts but clings on to job

Bank warns Alison Rose could see pay docked after controversy over closure of ex-Ukip leader’s Coutts accounts

The Guardian - UK

NatWest CEO says she made ‘serious error’ in discussing Nigel Farage Coutts account, but board backs her

The chair of the bank said Dame Alison Rose still has the board’s “full confidence”

Evening Standard

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Damning messages reveal JPMorgan execs discussed seeing ‘nymphettes’ at Jeffrey Epstein property

‘A few people (were) laughing about Jeffrey’: JP Morgan executives allegedly joked about Epstein surrounding himself with young women and girls

The Independent UK

What’s so good about a Coutts account anyway? And all the other luxury credit cards you need to know about

The luxury bank that recently kicked Nigel Farage off its books is all anyone can talk about in the world of personal finance. Isolde Walters lays out the benefits of the UK’s most exclusive credit card

Evening Standard

HSBC, Nationwide and TSB failed to send transaction histories to some customers

The providers breached a requirement that payment transaction histories should be provided to customers when they close their account.

The Independent UK

China Plans to Relax Rules on Foreign Firms Investing in Bad-Debt Managers

Removing the ban on overseas nonfinancial firms’ equity investment can help attract talent with professional experience, financial regulator says

Caixin Global

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Santander Closes Accounts Of Customers Who Paid Cash For Cars In Argentina

The bank considered the transactions suspicious even though they were approved by the AFIP.

Motor1

City minister summons UK bank bosses to discuss Farage account closure

Andrew Griffith raises ‘significant concern’ after Coutts judged ex-Ukip leader ‘did not align’ with its values

The Guardian - UK

Coutts’ virtue-signalling plan had one flaw. The bank has no virtue to signal

Compiling the Farage dossier takes some cheek when you have so many ghastly clients

The Guardian - UK

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

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

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The Times of India

Man arrested for stealing from ATM in north Delhi

NEW DELHI: A 40-year-old man named Mohammad Azad was arrested for allegedly stealing cash after breaking open an ATM machine in north Delhi, police said on Friday.

The Hindu

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 Independent UK

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’

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news in one place.

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Caixin Global

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

The Guardian - UK

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 Independent 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 Guardian - 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

Evening Standard

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

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.

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