Our biggest stories of the past week are …
I just found a great
website called Not Always Right that tells the staff side of humorous or
challenging customer experiences in the USA. It’s brilliant. Here are my faves
that relate to banks.
We had a busy day in
the UK over the past two days with the release of the Parliamentary Commission
Report, George Osborne’s speech about banks and the economy at the Mansion
House and the announcement by the Prudential Regulatory that there is a £27.1
billion capital shortfall in the UK banking system.
I mentioned that BRE
Bank is dropping their branding later this year and replacing it with mBank,
the brand they launched last decade to support their online activities.
Effectively, this traditionally structured branch-based bank is now becoming a
pure mobile social bank. Here’s an analysis.
Since the big
headline fines of Standard Chartered and HSBC for money laundering last year,
there have been a lot of things rumbling in the background. In particular, the
backlash from such activity has been quite notable, with HSBC throwing…
conference all day, I was asked to give a summary at the end of the day, and
was intrigued to find that all of my notes talked about human relationships
through digital channels. Here’s a short summary to…
The major general news stories of the past week include …
as former Bank of England Governor Sir Mervyn King walks away with £6.3million
pot – The Express
RETIRING Bank of England Governor Sir Mervyn King came under attack yesterday
over his gold-plated pension worth more than £6.3million.
banks are not merely out of control. They're beyond control – The
Jailing reckless bankers is a dangerously incomplete solution. The market is
bust. Institutions that are too big to fail are too big to exist
Lloyds and Barclays 'make up 90pc of £25bn black hole' – The Telegraph
The City regulator is to trigger one of the biggest ever capital raising
efforts after laying bare funding gaps that amount to a £25bn blackhole hidden
in Britain's banks.
£1m pay cut: City high-flier leaves Santander for Bank of England post
– The Independent
The City grandee Baroness Hogg's high-flying banker daughter Charlotte has
taken a £1m pay cut to become the new Bank of England Governor's top enforcer.
did one of Britain's banks get into such a mess? – The Telegraph
The Co-op Bank's capital raising marks the first major test for Britain's new
recovery and resolution regime and is being seen as a chance to assess how far
the country's financial regulation has come since the financial crisis in 2008.
Payments Council Launches Payments Roadmap Effort – Payments News
The UK Payments Council has published its first ever Payments Roadmap – An
Initial Report (PDF) – saying that it "spells out the Payments Council’s
revolutionary approach towards assessing the options for building on the world
leading payment services currently used by UK customers." Adrian
Kamellard, Chief Executive of the
gets one-year New York ban – BBC
Deloitte is suspended for one year from doing consulting work in New York after
regulators criticised its work at Standard Chartered on anti-money laundering
Bank 'Horribly Undercapitalized': Regulator – Here is the City
A top U.S. banking regulator called Deutsche Bank's capital levels
"horrible" and said it is the worst on a list of global banks based
on one measurement of leverage ratios.
50 years, Lloyds is selling me to another bank’ – The Telegraph
Lloyds is splitting off 600 branches into a separate bank called TSB. Customers
are going too – and they’re not happy.
saved, but banks face shake-up in pivotal week – The Independent
The Co-operative Bank will this week announce a plan to fill a £1.5bn hole in
its finances, just as the Parliamentary Commission on Banking Standards
recommends new powers to break up struggling banks.
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