Top City regulator Andrew Bailey criticises TSB and chief executive Paul Pester following IT meltdown June 6, 2018 Top City watchdog Andrew Bailey has criticised TSB and its chief executive for poor communication following the IT meltdown which left thousands of customers without access to their accounts for weeks. The Financial Conduct Authority (FCA) boss wrote that the regulator is “dissatisfied with TSB’s communications with its customers”. TSB’s “poor” communications could “reduce trust [...]
TSB belatedly starts new era after finally leaving Lloyds computer systems behind April 23, 2018 High street challenger bank TSB will belatedly start a new era today as it finally completes a computer migration from its former owner, Lloyds Banking Group. Services for customers were limited over the weekend as the changeover happened. Some functionality is not due to work properly until the end of April, according to TSB’s website [...]
UK GDP preview: Banks down, sterling ready to break out? August 8, 2019 Ahead of the UK Q2 GDP print on Friday, gilts and UK bank stocks betray concerns about the economy that the official figures are likely to back up. Meanwhile GBPUSD is nearing the end of a narrowing wedge that could signal it’s ready to move out of its August range on whatever the GDP point [...]
The taxman cometh: 6 tips to help you complete self-assessment tax return January 29, 2020 This Friday marks the end of a process that many have found divisive, emotionally draining, expensive, and time-consuming. No, I’m not talking about Brexit. Friday 31 January is the deadline for completing your self-assessment tax return — the bane of existence for freelancers, the self-employed, and anyone who earns extra income outside their basic salary. [...]
What are the banks doing to help survivors of financial abuse? July 29, 2019 Money ultimately brings us freedom, so what if your partner were to restrict access to your income or bank account? It’s not uncommon for perpetrators of domestic abuse to manipulate their partners through money in this way – in fact, according to Women’s Aid, a third of survivors say that their access to cash during [...]
Lloyds ban on credit card Bitcoin purchases is the right move February 6, 2018 On Monday, Lloyds Banking Group announced it has banned its credit cards from being used to buy Bitcoin. The decision includes Lloyds Bank, Bank of Scotland, Halifax and MBNA credit cards. It follows a similar move by US banks. It’s a hard decision to argue with. Regardless of the inherent volatility in the value of [...]
Lloyds Banking Group hires Professor Russel Griggs to oversee its HBOS Reading scandal review March 20, 2017 Lloyds Banking Group has appointed Professor Russel Griggs to oversee the independent review into the HBOS Reading scandal. Two ex-HBOS bankers were among six people jailed back in February for their roles in a ruse to drive small businesses into the ground for personal gain, running up nearly £250m in losses for the bank which had to [...]
Standard Life Aberdeen shares slump after £109bn Scottish Widows mandate is axed February 15, 2018 Standard Life Aberdeen was today dealt a blow after being stripped of £109bn of assets it manages on behalf of life insurer Scottish Widows. The newly merged fund management behemoth said it would lose up to five per cent of annual revenues and take a £40m impairment charge after Scottish Widows’ owner Lloyds Bank pulled [...]
Lloyds Bank, Halifax and Bank of Scotland online banking customers will soon be able to use facial recognition technology for login instead of passwords with Microsoft Hello April 17, 2017 Lloyds is the latest bank to jump on the biometric bandwagon with new plans to let users login simply by showing their face to a camera. Online banking for customers of Lloyds, Halifax and Bank of Scotland will now come with a new security option that replaces a password with a selfie or a fingerprint. [...]
UK bank HSBC holds on to the title of Europe’s largest – but Barclays and RBS slip down the ranks May 16, 2018 HSBC has held on to the title of Europe’s largest bank once again, according to new data, as the top four remained unchanged. Ranked by total assets, HSBC tops the chart with €2.1 trillion (£1.8 trillion), research from S&P Global Market Intelligence showed. Unchanged from last year, the UK institution was followed by France’s BNP [...]