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The Latest Breaking News on Financial Services

Coutts CEO Peter Flavel stands down over Nigel Farage row

Coutts’ chief executive Peter Flavel, the boss of the private bank which closed Nigel Farage’s account, will step down immediately, NatWest Group has said.

Evening Standard

Explained | RBI’s proposal for interoperability of credit and debit cards

The Reserve Bank of India has proposed that card issuers be mandated to provide customers with the choice of multiple card networks, instead of only specific networks with which the bank has exclusive agreements

The Hindu

Nigel Farage banking scandal claims another scalp as Coutts CEO quits

Peter Flavel is second bank chief to resign over cancellation of ex-Ukip leader's account, as pressure mounts on NatWest chair to go next

The Independent UK

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OPINION - Russophobia is now the secret weapon of corporate hypocrites

Until yesterday, you’d have been forgiven for thinking the outcome of the Coutts-Nigel Farage debacle was a lecture on customer service. City minister Andrew Griffith summoned our banks for a little chat, as if they were naughty school children who’d written swear words on the board.

Evening Standard

Future of architecturally important Lakeside Bank branch is up in the air

The bank, originally a groundbreaking library for the blind and disabled designed by Chicago architect Stanley Tigerman, is for sale since its closure, Lee Bey writes.

Chicago Sun-Times

76% annual jump in current accounts being switched

A total of 338,194 switches took place using the Current Account Switch Service between April and June.

The Independent UK

Who is Peter Flavel? Coutts CEO who lost his job over Nigel Farage banking row

Natwest CEO Dame Alison Rose’s resignation ‘not enough’ says former UKIP leader as he calls on whole board to quit

The Independent UK

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Resilient, but just: On the IMF’s economic outlook and lopsided growth

That there needs to be a concerted global debt resolution initiative to help highly indebted countries from sliding into debt distress cannot be ignored

The Hindu

NatWest was caught out by Nigel Farage’s deft political game

Tory anger over Coutts affair led to bank’s board feeling it had no choice but to sack CEO Alison Rose

The Guardian - UK

Sunak and Hunt accused of ‘damaging UK plc’ over NatWest boss’s exit

Concerns raised over anonymous briefings that triggered early-hours resignation of Dame Alison Rose

The Guardian - UK

NatWest sees £850m wiped from its value after Nigel Farage calls for heads to roll

Dame Alison Rose’s overnight decision to quit after leaking a story about Nigel Farage’s bank account to the BBC rocked NatWest and the wider banking sector

The Independent UK

How To Choose a Credit Card for You

Choose a credit card to improve your credit score, save money, or earn rewards; but don’t get in over your head.

Kiplinger

Farage blames ‘woke capitalism’ for his row with Coutts, but banks aren’t woke. Their obsession is profits

Like many corporations, they make virtuous statements, but for the most part they hide behind a cloak of ethical humbug, says Larry Elliott, the Guardian’s economics editor

The Guardian - UK

Farage account closure risks ‘undermining efforts to tackle financial crime’

THE UK Government risks undermining money laundering rules if it makes knee-jerk decisions after Nigel Farage’s bank account closure, experts say.

The National (Scotland)

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The Guardian - UK

From sold-out Adele tickets to an elephant for your wedding: the perks of banking with Coutts

Private bank offers exclusive services to its wealthy clients, who include Emma Watson and Stormzy

The Independent UK

What is the Nigel Farage row about and what does it mean for me?

Ministers are pressing ahead with accelerated reforms to give customers more rights on so-called de-banking.

The Independent UK

Who is Peter Flavel? Coutts CEO under fire over Nigel Farage banking row

Natwest CEO Dame Alison Rose’s resignation ‘not enough’ says former UKIP leader as he calls on whole board to quit

Evening Standard

Dead-of-night departure of NatWest boss Dame Alison Rose rocks the City

Shares in turmoil-hit bank fall and furore keeps growing after Dame Alison Rose’s resignation as NatWest’s chief executive

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The Independent UK

Lloyds braces for loan losses as borrowers face £360 monthly mortgage jump

The banking group revealed its half-year profit increased by more than a fifth compared with last year.

The Guardian - UK

Forget Nigel Farage and Coutts – banks have been locking ordinary people out of accounts for years

This is a rich person’s row. But as a debt adviser, I’ve seen clients’ lives upended when they are denied access to a basic bank account, says debt adviser Amy Taylor

The Guardian - UK

Many MPs falling foul of bank rules on ‘politically exposed persons’, says Philp

Policing minister says case of private bank Coutts closing Nigel Farage’s account is ‘not unique’

The Independent UK

Labour questions Downing Street pressure on NatWest boss’s resignation

Dame Alison Rose quit as chief executive after coming under pressure from No 10 and the Treasury in the Nigel Farage row.

Evening Standard

No recession and lower rates on way, predicts mortgage giant Lloyds Bank

BRITAIN’S biggest mortgage lender offered hope to the nation’s homeowners today and predicted the UK will no longer fall into recession next year.

The Guardian - UK

Lloyds puts aside more than £400m for mortgage arrears as rates soar

Bank says profits have fallen as interest rates and cost of living are ‘challenging’ for people and firms

The Independent UK

Who is Alison Rose? NatWest boss who quit after admitting Nigel Farage leak to BBC

Dame Alison Rose was recently appointed to Rishi Sunak’s new business council

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