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    Bankers’ bonus cap architect says EU must sue UK government

Bankers’ bonus cap architect says EU must sue UK government

MEP calls on European commission to take UK to court for allowing banks to ‘blatantly’ sidestep EU rules limiting bonuses
One of the architects of the EU’s cap on bankers’ bonuses has called for the UK government to be sued for allowing banks to sidestep the new rules as two more high street banks were preparing to hand their bosses up to £1m in extra pay to avoid the clampdown.
Philippe Lamberts, the Belgian Green MEP who helped devise the restrictions, […]

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Bank of England cuts 100 jobs in biggest cull for a decade

Union expresses shock as review initiated by Bank governor Mark Carney focuses cuts on IT and HR staff

Pedestrians and workers outside the Bank of England. The Bank says it ‘envisages between 80 and 100 redundancies’. Photograph: Bloomberg/Getty

The Bank of England has announced its biggest jobs cull for more than a decade, with 100 positions to go as part of an efficiency drive.

The “value for money review”, which was launched shortly after Mark Carney arrived as governor last year, puts as many […]

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    Update on independent review of RBS’s treatment of business customers in financial difficulty

Update on independent review of RBS’s treatment of business customers in financial difficulty

The Financial Conduct Authority (FCA) has appointed Promontory Financial Group and Mazars to conduct an independent skilled persons report under section 166 of the Financial Services and Markets Act (FSMA) 2000.

The report will examine Royal Bank of Scotland’s (RBS) treatment of business customers in financial difficulty and consider allegations of poor practice set out in the report by Dr Lawrence Tomlinson and referenced in Sir Andrew Large’s report.

The first stage of the review will consider RBS’ treatment of a […]

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    More competition in banking depends upon a more feasible plan

More competition in banking depends upon a more feasible plan

Ed Miliband has picked a reasonable fight with big bank bosses, but his suggested structure leaves much to be desired.  His desired structure – two new challenger banks created via divestments of branches by the current big banks – looks unworkable.  Too crude. Too costly. Too time consuming. Ed Miliband should prepare for more attacks along these lines. Executives at big banks simply hate the idea that they should be made to unload parts of their organisations.

Some of the objections carry […]

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  • Customers use Lloyds ATMs
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    Lloyds and TSB customers vent anger as IT glitch hits ATMs and debit cards

Lloyds and TSB customers vent anger as IT glitch hits ATMs and debit cards

Account holders complain of being unable to withdraw cash or pay for food and petrol in latest meltdown for high-street banks,
Customers vented their anger on Sunday night after Lloyds and TSB became the latest high-street banks to experience a technological meltdown which led to many people being unable to withdraw money or use their cards.
Furious customers complained of having to leave shopping behind at supermarket counters and being unable to pay restaurant bills.
Lloyds said the problem was affecting debit […]

  • Customers use Lloyds ATMs
By |January 27th, 2014|All Banks, HBoS, Lloyds, TSB|0 Comments