After fining Metro Bank and Starling, which challenger bank will the FCA target next? Banking The Financial Conduct Authority has signalled that it is ready to take a hard line against challenger banks for financial crime failings after dishing out hefty fines to young lenders.
Metro Bank given hefty fine by City regulator for financial crime failings Banking The Financial Conduct Authority (FCA) said that Metro Bank had failed to adequately monitor over 60m transactions for money laundering risks between June 2016 and December 2020.
Meta: Instagram owner to expand UK bank data scheme in anti-fraud push Banking Meta is to partner with more UK banks for a data-sharing programme aimed at tackling fraud, as tech giants come under pressure to address a surge in scams on social media.
Is the high street party over for Metro Bank? August 4, 2024 The boss of Metro Bank has said it will begin to shift its focus away from the high street as the lender looks to ramp up its business banking efforts.
Metro Bank share price soars after lender reports its on track for profitability later this year July 31, 2024 Metro Bank expects to return to profitability in the final quarter of 2024 as the lender attempts to stage a recovery from a volatile year.
Natwest shares rise after strong results and deal for part of Metro Bank’s mortgage book July 26, 2024 Natwest became the latest bank to report a fading boost from higher interest rates as it announced the acquisition of part of Metro Bank's mortgage book.
Metro Bank revives multibillion-pound mortgage sale after rescue July 8, 2024 Metro Bank has revived a plan to sell a multibillion-pound chunk of its mortgage book after being rescued from potential collapse last year.
Metro Bank reports £500m drop in lending as it pivots to higher-margin products April 30, 2024 Metro Bank has reported a fall in lending at the start of 2024 but saw a rise in deposits as it looks to rebound from potential collapse last year.
Metro Bank cancels bonuses for all executives after turbulent year and rescue April 17, 2024 Metro Bank has cancelled the bonuses of all its executive directors following a turbulent 2023.
Metro Bank swings to first annual profit since 2018 while slashing 1,000 jobs March 13, 2024 Metro Bank has swung to its first annual profit since 2018 after the branch-focused lender was rescued from potential collapse by a major refinancing package and embarked on a restructuring set to involve 1,000 job cuts.