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The Latest Breaking News on Financial Services

Glasgow bank branches 'condemned' by closure including Bank of Scotland and Barclays

Multiple bank branches in and around Glasgow are set to shut down as the number of physical banks continues to fall. This include branches for Bank of Scotland, Royal Bank of Scotland and Barclays.

Glasgow Live

NatWest and Lloyds to axe a further 81 bank branches

Banks say customers are rejecting traditional counter services in favour of online banking

The Guardian - UK

Biden Eyes New Regulations As Congress Dives Into Silicon Valley, Signature Bank Failures

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

Zenger

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Credit Suisse helped rich dodge taxes

"Republican budget cuts have decimated the IRS's ability to root out this kind of offshore tax evasion scheme"

Salon

Top UN court rejects Iranian bid to free assets frozen by US

The United Nations’ top court has rejected Tehran’s legal bid to free up some $2 billion in Iranian central bank assets frozen by U.S. authorities to be paid in compensation to victims of a 1983 bombing in Lebanon and other attacks linked to Iran

The Independent UK

Full list of banks closing in Scotland in 2023 - check for your local branch

There are a number of bank branch and building society closures scheduled throughout 2023, so it is important to check your branch and any alternatives that may be available.

Daily Record

Porthcawl to get its own banking hub

The investment by LINK follows announcements to closure the town's two remaining bank branches

Birmingham Post

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Lloyds, Halifax, NatWest and two other banks to shut another 80 branches - see full list

Bank closures have become the norm over the last few years as more people choose to do their banking online rather than in a branch

Daily Mirror

Plans to turn bank into bedsits compared to 'sardines' - but it's still going ahead

Proposals for the old Barclays branch, in Edgeley, have been approved by Stockport council’s planning committee.

Manchester Evening News

Kilwinning to receive new banking hub thanks to locals’ requests

The banking hub in Kilwinning will offer basic counter services, allowing people to withdraw cash, collect change, deposit cheques, pay bills and make balance enquiries.

Daily Record

Credit Suisse violates deal on rich clients’ tax evasion

The Senate Finance Committee finds that troubled Credit Suisse failed to report secret accounts held by U.S. citizens trying to avoid paying taxes.

Chicago Sun-Times

Bipartisan group of senators offer clawback bill for bank failures

WASHINGTON — A bipartisan group of senators released draft legislation Wednesday that would claw back executive pay in the five years leading up to a bank’s failure, following President Joe Biden’s call on Congress to take action.

Tribune News Service

The large Welsh town which is losing its very last bank as Lloyds confirms it's pulling out

The decision has been described as 'disappointing and short-sighted'

Wales Online

The Reserve Bank doesn't need an overhaul, Australia needs fairer policies, says former governor

Former governor Bernie Fraser says the Reserve Bank of Australia's attempt to improve the welfare of all Australians has been undermined by decades of neoliberalism.

ABC News

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The Conversation

Federal budget 2023: Long-term investments are needed to fix Canada’s infrastructure gap

The federal government’s 2023 budget unveiled investments in infrastructure, with a narrative highlighting resilient and sustainable communities, and pointing to Ottawa’s progress and investments to date.

Tribune News Service

Fed’s Barr acknowledges oversight lapses before SVB failure

The Federal Reserve’s top bank regulator on Wednesday said that supervisors could have done more to keep tabs on Silicon Valley Bank before it collapsed earlier this month.

Bristol Post

NatWest closures: Two Bristol banks to shut in 'disastrous decision' for community

"The rationale behind this closure is all too familiar"

The Independent UK

£2bn poured into NS&I as savers seek security on deposits

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The Guardian - UK

Bank of England calls for tougher pension scheme rules after crisis

Bank wants to avoid repeat of situation that followed Kwasi Kwarteng’s calamitous mini-budget

Daily Mirror

Thousands of mortgage holders 'could get extra money back' after High Court trial

Lawyers at the firm Harcus Parker are working to take action on behalf of customers who believed they were unfairly charged high mortgage rates

Kiplinger

How to Protect Your Cash and Investments in a Banking Crisis

A focus on FDIC insurance and Treasury-only money market or bond fund options can help safeguard investments when a banking crisis threatens.

Axios

Exclusive: Biden's World Bank pick sets ambitious course

Ajay Banga: World Bank should focus on both poverty and climate change.

Dublin Live

Ulster Bank and KBC customers warned to act quickly to stop their accounts from being frozen

Customers have been urged to act fast as over 220,000 current accounts are still open even though the banks are set to leave the Irish markets soon

Bangkok Post

Ermotti back as UBS chief for Credit Suisse takeover

ZURICH: Sergio Ermotti will return as CEO of Swiss banking giant UBS to pilot the controversial acquisition of troubled rival Credit Suisse, its board announced Wednesday.

Chicago Sun-Times

Fed official says banking rules are under review in the wake of SVB failure

Michael Barr, the nation’s top banking regulator, said Silicon Valley Bank was warned in the fall of 2021 that its interest rate model was not ‘aligned with reality.’

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