Latest News


Virgin Money sold to CYBG for £1.7 billion

by Mike Birkett, 21/06/2018

Virgin Money sold to CYBG for £1.7 billion

CYBG – the former Clydesdale and Yorkshire Bank – has bought Virgin Money for £1.7 billion to make it the UK’s sixth largest bank.
It has also reached an agreement with Sir Richard Branson’s Virgin Group to licence the brand name for £12 million a year, rising to £15 million in the future.
The new firm will have assets worth £70 billion and more than six million customers.

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TSB loses 12,500 customers after IT crisis

by Mike Birkett, 07/06/2018

TSB loses 12,500 customers after IT crisis

TSB chief executive Paul Pester told MPs yesterday that his bank had lost around 12,500 customers since suffering an IT meltdown six weeks ago.
He also confirmed that there have been at least 10,600 fraud alerts and 1,300 cases where customers lost money. Overall, the bank received 93,700 complaints from angry customers.

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PPI claims still flooding in

by Mike Birkett, 07/06/2018

PPI claims still flooding in

Tens of thousands of PPI claims continue to flood in as the deadline for making a claim draws ever closer.
In March last year the Financial Conduct Authority (FCA) finally agreed to the UK banking industry’s request for a final deadline on making claims and set the date for August 29th 2019.

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CYBG increases offer to buy Virgin Money

by Mike Birkett, 07/06/2018

CYBG increases offer to buy Virgin Money

CYBG – the former Clydesdale and Yorkshire Bank – has increased its offer to buy Virgin Money by 7% in an all-share bid to create Britain’s sixth biggest bank.
A preliminary bid was made last month and the new offer came as the deadline for a formal bid was about to run out.

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Regulators to investigate TSB’s IT meltdown

by Mike Birkett, 07/06/2018

Regulators to investigate TSB’s IT meltdown

Britain’s financial regulators are to investigate the massive IT failure which led to 1.9 million TSB customers losing access to their online banking services.
The Financial Conduct Authority (FCA) has already criticised the bank’s top management for suggesting most TSB customers could carry out transactions as normal, saying it gave an ‘optimistic’ view of the breakdown which was ‘too positive.’

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What does Susan Plevin’s success mean for you?

by Mike Birkett, 06/06/2018

What does Susan Plevin’s success mean for you?

Thousands of people have thousands of reasons to thank Susan Plevin for her tenacity and thousands more will do so in the future.
Her never give up attitude has led to thousands of people being able to claim PPI compensation, even after their claim had been rejected by their lender.

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Government loses £2.1 billion on sale of RBS shares

by Mike Birkett, 06/06/2018

Government loses £2.1 billion on sale of RBS shares

The government has lost £2.1 billion on the sale of 7.7% of its stake in Royal Bank Of Scotland (RBS).
A total of 925 million shares were sold off at 271p each, almost half of the 502p a share that the Labour government paid when they bailed out the bank at the height of the financial crisis in 2008.

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Millions in danger of missing PPI deadline

by Mike Birkett, 06/06/2018

Millions in danger of missing PPI deadline

Millions of consumers across Britain are in increasing danger of missing the PPI claims deadline and losing the chance to find out if they are owed. The banks have set aside billions of pounds to compensate customers who were mis-sold PPI, yet many consumers still haven’t checked if they have it.
The country’s financial regulator is spending £42 million on a multi-media consumer awareness campaign to try to persuade anyone who might have a claim to do so sooner rather than later.

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RBS branches WILL close

by Mike Birkett, 31/05/2018

RBS branches WILL close

Royal Bank Of Scotland (RBS) has refused to reconsider its plans to close at least 52 branches in Scotland.
MPs, businesses, consumers and unions had all asked the bank to stop the closure plans, but at their annual general meeting yesterday the bank’s board of directors refused to be budged.

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Multi-billion pound RBS share sale imminent?

by Mike Birkett, 31/05/2018

Multi-billion pound RBS share sale imminent?

Financial experts are speculating that the government is about to re-start the privatisation of Royal Bank Of Scotland (RBS) with a multi-billion pound share sale.
Sources say that investors have been primed to expect the sale of up to £3 billion worth of the government’s 70.5% stake in the bank.

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