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Blog Category: Banks


HBOS ignored PPI warnings ‘for years’ claims whistleblower

HBOS ignored PPI warnings ‘for years’ claims whistleblower

A whistleblower has claimed Halifax/Bank Of Scotland (HBOS) knew ‘for years’ that PPI policies it sold provided no cover for the buyers.

Now MPs are demanding an investigation into the ‘serious allegations’ made by former HBOS senior executive Paul Moore in a new book “Crash Bank Wallop.”Read More


 

Hackers siphon £20 million from UK bank accountsShadowy hackers calling themselves Evil Corp have stolen more than £20 million from British bank accounts by ‘eavesdropping’ on legitimate banking transactions and sending the account details and password back to the hackers.

The attack uses a program called Dridex malware to harvest the online account details. Read More


RBS close to £13 billion zombie loans deal

RBS close to £13 billion zombie loans deal

Royal Bank Of Scotland (RBS) is said to be close to closing a deal with £13 billion worth of zombie loans being sold by the government.

The taxpayer owned bank is understood to be in a three way fight with American hedge fund, Cerberus, and the Spanish bank, Sabadell.Read More


Desperate first time buyers taking out 40 year mortgages

Desperate first time buyers taking out 40 year mortgages

Desperate first time buyers are taking out 40 year mortgages to get their first foot on the property ladder.

Surging house prices mean that thousands of people are finding that the only way they can afford to buy their first home is to take out their loan over a longer period than the traditional 25 years.Read More


American chosen as new Barclays boss

American chosen as new Barclays boss

Jes Stayley (left) takes over from Antony Jenkins (right) as Barclays chief executive

American banker Jes Stayley is the man chosen by Barclays Bank to lead it out of an era of PPI mis-selling and exchange rate fixing scandals.

James ‘Jes’ Stayley has been appointed chief executive to replace Antony Jenkins who was fired by the Barclays board in July after he fell out with them over plans for cost cutting and profitability.Read More


Lloyds sell-off – 250,000 want a share of the action

Lloyds sell-off – 250,000 want a share of the action

More than 250,000 people are queueing up to buy £2 billion worth of Lloyds shares when they go on sale next spring.

Revealing the figure, Chancellor George Osborne said: “More than a quarter of a million people have so far registered to take part in the issue – that is five times the number who registered for the Royal Mail issue.”Read More


New rules on whistleblowing from FCA

New rules on whistleblowing from FCA

Britain’s financial regulators have issued new rules on whistleblowing, ordering every regulated financial firm to appoint a senior manager as a whistleblower’s champion.

The Financial Conduct Authority (FCA) and the Bank Of England’s Prudential Regulation Authority (PRA) have published the new rules which will come into effect in September next year.Read More


£2 billion of Lloyds shares offered to the public

£2 billion of Lloyds shares offered to the public

Plans to offer at least £2 billion worth of Lloyds shares to the public have been announced by the government.

Investors will be offered the shares at a 5% discount on the market price at the time of sale and small investors wanting to buy less than £1,000 worth of shares will be given priority.Read More


Almost £2.4 billion PPI payouts in last six months

Almost £2.4 billion PPI payouts in last six months

Almost £2.4 billion has been paid in compensation for successful PPI complaints in the last six months, with more than 883,000 new complaints being made.

Half year figures published by the Financial Conduct Authority (FCA) show that though the number of complaints is falling, Britain’s banks are still paying out well over £⅓ billion a month for mis-sold policies.Read More


Bank Of England worried about buy-to-let boom

Bank Of England worried about buy-to-let boom

The Bank Of England is becoming increasingly worried by the dramatic rise in the buy-to-let mortgage market in recent months.

The Financial Policy Committee (FPC) said the surge in this type of mortgage could pose a threat to wider financial stability.Read More



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