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by AreYouPop on Nov 11, 2015

KPMG defends role in Co-op Bank financial crisis

KPMG- the auditors to the troubled Co-operative Bank have defended their role, saying they saw nothing that raised alarm bells ahead of its financial crisis. Partners at KPMG, the bank’s auditor for 30 years, were speaking to MPs about the Co-o...
by Loans Calculators on Dec 4, 2013

UK banks to begin small business mis-selling review

The UK High Street banks have been ordered to begin reviewing all interest rate hedging products they may have mis-selling to small businesses.The Financial Services Authority (FSA) said Barclays, Lloyds, HSBC and RBS would seek to identify and provi...
by Loans Calculators on Feb 7, 2013

Wonga goes global

The online lending business Wonga has announced that it is to expand internationally.The company, which is regularly attacked by its critics for its lending practices, has started offering short term loans to customers online in South Africa, Canada,...
by Loans Calculators on Jan 30, 2013

HSBC fined £1.2 billion for stunning failures over oversight

“Dangerous practices” at HSBC allowed the bank to pass money to “drug kingpins and rogue nations”- so it has been fined £1.2 billion ($1.9 billion).A US Senate investigation said the UK based bank had been a conduit for drug...
by Loans Calculators on Dec 20, 2012

Green Investment Bank launched by Vince Cable

The UK’s new Green Investment Bank has been officially launched in Edinburgh by Vince Cable.The bank will have £3 billion of government money to invest in areas such as renewable energy, carbon capture and storage and energy efficiency measure...
by Loans Calculators on Dec 6, 2012

Northern council invests in online business lender

Lancashire County Council is to become the first local authority to invest taxpayers’ money directly into an online lender that connects savers and borrowers.The council will invest £100,000 into local businesses using Funding Circle, a market...
by Loans Calculators on Nov 15, 2012

RBS raises PPI claims bill by another £400 million

Royal Bank of Scotland has set aside another £400 million to cover the cost of claims for mis-sold payment protection insurance (PPI).This will take the bank’s total charges for PPI mis-selling to £1.7 billion. The figures were disclosed as R...
by Loans Calculators on Nov 13, 2012

UK banks business lending to drop to hit six year low

Bank lending to businesses will hit its lowest level this year since 2006- despite government efforts to stimulate lending.The Ernst & Young Item Club forecasts that business lending will fall by 4.6% to £429 billion in 2012 from last year- the...
by Loans Calculators on Nov 2, 2012

Nationwide linked to RBS branch sale

Nationwide could join the race for hundreds of Royal Bank of Scotland (RBS) and NatWest branches.RBS had planned to sell 316 branches- which serve hundreds of thousands of business customers to Santander but the deal collapsed earlier this month. Nat...
by Loans Calculators on Oct 29, 2012

Business bosses lack trust in banks

Business bosses trust in banks and other financial institutions is falling- according to the British Chambers of Commerce (BCC).Half of the 1,560 businesses questioned in a recent survey said they mistrust banks and building societies, while 38% said...
by Loans Calculators on Oct 19, 2012

New Barclays’ boss- we need socially useful banks

The new Barclays chief executive Antony Jenkins has said banks must become “socially useful” if they are to rebuild trust.“Banking does have a lot to do to rebuild trust and integrity and I’d also say that it’s vital tha...
by Loans Calculators on Oct 17, 2012

Libor interest rate changes planned

The Libor interest rate changes said that the banking industry should not wait for changes to be imposed, but should “begin immediately to put its house in order”.Mr Wheatley said  “But surely the wider lesson is that a whole array...
by Loans Calculators on Oct 15, 2012

Libor interest rate rigging bankers should face prosecution

A report into the Libor rate rigging scandal says the system is broken and suggests its complete overhaul, including criminal prosecutions for those who try to manipulate it.Its author, regulator Martin Wheatley said that bankers guilty of fixing Lib...
by Loans Calculators on Oct 11, 2012

Barclays promotes Antony Jenkins as new chief executive

Barclays Bank has promoted Antony Jenkins to be its new chief executive.The appointment follows the resignation of former chief executive Bob Diamond in the wake of the Libor interest rate fixing scandal. Mr Jenkins currently runs Barclays Retail and...
by Loans Calculators on Sep 13, 2012

Libor loans rates rigging- seven banks face US questioning

Seven banks- including HSBC and Royal Bank of Scotland are to be questioned in the US for alleged manipulation of the Libor inter bank loans lending rate.Barclays, Citigroup, Deutsche Bank, JPMorgan and UBS have also received subpoenas from the attor...
by Loans Calculators on Aug 23, 2012

Tax penalties of £1,200 sent out by HMRC

by Loans Calculators on Aug 17, 2012

UK banks to review business loan sales

Seven UK banks have agreed to review their sale of specialist insurance to small businesses to check for mis-selling.The Financial Services Authority (FSA) said there was no presumption of mis-selling at the seven banks. The City watchdog has already...
by Loans Calculators on Jul 30, 2012

FSA finds banks guilty of mis selling to small firms

The Financial Services Authority (FSA) says banks mis sold specialist insurance- known as interest rate swaps, to thousands of small businesses.The FSA said it had found “serious failings” in the sale of the products, designed to protect...
by Loans Calculators on Jul 2, 2012

Silicon Valley Bank targets UK technology sector

Silicon Valley Bank, the US hi-tech bank with £13 billion in assets, opened its first UK branch this month offering banking and loan services to the UK tech industry.The Chancellor George Osborne said the move proves “the UK is fast becoming t...
by Loans Calculators on Jun 13, 2012


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