Banking

Deference, rather than Brexit, is the regulator’s biggest problem | Business – Business Article

There is a glacial pace to activity at Britain’s main financial watchdog. Partly that is the fault of Brexit, which has robbed the organisation of funds and to some extent the energy needed to think of anything other than how quitting the European Union will affect the City. But its clear from the Financial Conduct Authority’s plan for the year ahead that much of the delay is not Brexit-related, but stems from a deep-seated reticence to interfere in the workings…

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Mastercard ruling: almost every UK adult could receive payout | Business – Business Article

Almost every adult in the UK could receive a payout of up to £300 from Mastercard after a court ruling paved the way for a £14bn class action lawsuit. The legal action taken by former financial ombudsman Walter Merricks claims that 46 million UK consumers paid higher prices in shops over a 16-year period because of allegedly excessive transaction fees charged by Mastercard. Two years ago, the Competition Appeal Tribunal threw out Merricks’s claim, ruling it would not grant an…

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Bank of England begins climate enforcement with a velvet glove | Larry Elliott | Business – Business Article

We can already hear the distant thunder of climate change and must not wait for the storm to hit. The Extinction Rebellion protesters that blocked London traffic? No, a senior Bank of England official telling banks and insurers that from now on they will be expected to make global warming central to the way they operate. Threadneedle Street would never publicly endorse action that causes disruption but the speech by Sarah Breeden, head of international banks supervision, suggests a degree…

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Banks rejecting SMEs for finance | Dynamic Business – Small Business Advice – Forums – Business Article

The challenge of securing bank finance is seeing a growing number of small and medium enterprises (SMEs) turn to online lenders. One in four SMEs have been knocked back for bank finance Among SMEs rejected by a bank, one in three have turned to family/friends or a credit card for funding Of those SMEs that have secured bank finance, 29% of SMEs have had their business negatively impacted by the time taken to organise funding One in four SMEs plan…

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Number spoofing: more Metro Bank users say they were robbed of thousands | Money – Business Article

More Guardian Money readers have come forward to say they too have been scammed by fraudsters who “spoofed” their bank’s phone number. In some cases they have lost more than £40,000. Two weeks ago Money featured Jane Holden, a Cambridge businesswoman who lost £90,000 after falling for a highly sophisticated fraud. She had taken a call that showed up on her handset as coming from Metro Bank’s 0345 business banking number. Partly as a result of this – and the…

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Amazon is banking on your emotions – AllformZ – Business Intelligence Article

If you are a deal hunter like me, you’d surely love Amazon. Countless services from Amazon such as Prime – two day free shipping, Smile – donate to a charity of your choice through a portion of your purchases, Kindle, needless to mention Alexa and the list keeps extending. Banks Vs Brands However hard the banks have been trying, they are failing to provide a “brand” experience. We don’t get the same feeling of being a “one customer” whenever we…

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