News Topic: U.K.
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Challenger bank Revolut bets on travel rebound
Goldman Sachs starts to offer transaction bank services in U.K.
Digital ID startups to get funding boost from U.K. payments firm
Bank of England wants tight regulations for digital currencies
Post-Brexit interchange fee plan prompts outcry from U.K. merchants
JPMorgan plans retail bank expansion abroad with U.K. foray
The bank will start with a mobile checking account for U.K. customers this year, followed by a full slate of products that could include credit cards, mortgages and car loans. ... Read full article
Mastercard suffers legal setback in European interchange battle
The U.K. Supreme Court has rejected Mastercard’s attempt to force individual lawsuits over claims the card brand overcharged consumers and negatively impacted competition for more than a decade. ... Read full article
Banks are ditching London offices and not just because of COVID-19
With thousands of job cuts likely to follow what's forecast to be the worst recession in three centuries, the tenants of the glass and steel towers that dominate the City of London and Canary Wharf may face an even bigger retreat. ... Read full article
British lenders brace for negative rates floated by central bank
British banks are confronting the European import of sub-zero interest rates that could damage profits already weakened by the coronavirus pandemic as the Brexit divorce rumbles toward its rocky end. ... Read full article
Five lenders withdraw from U.K.'s coronavirus rescue plan
The firms say they can't handle crushing loan demand from small and medium-sized businesses. ... Read full article
N26 closing all U.K. mobile banking accounts, blaming Brexit
The German challenger bank said that its "several hundred thousand" customers in the U.K. have until April 15 to withdraw money or transfer it to another account. ... Read full article
Citigroup hit with record U.K. fine for incorrect reporting
The Bank of England fined Citi $57 million for failing to properly report capital and liquidity levels at its European investment bank and other global operations. ... Read full article
U.K.'s Transferwise, once a rival to banks, launches with U.S. FIs
TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally. ... Read full article
Vernon Hill survives proxy challenge at Metro Bank in U.K.
Metro Bank had worked to win shareholder support by raising fresh capital and cutting ties with Hill's wife's design firm. ... Read full article
Metro Bank shares post record gain as lender boosts capital
Vernon Hill's U.K. bank sold $479 million of new stock and issued fresh details about its turnaround efforts. Those included plans to cease its controversial practice of purchasing design and branding services from a business owned by Hill's ... Read full article
A ‘crisis of confidence’ at Vernon Hill’s U.K. bank
As Metro Bank’s problems mount, calls for Hill’s ouster as chairman are getting louder. ... Read full article
RBS starts hunt for new chief executive as McEwan steps down
Royal Bank of Scotland's top banker will leave the state-backed lender within a year, in an expected move that potentially paves the way for a senior female executive to take his role. ... Read full article
U.K. fintech now has war chest to push stateside
The British startup OakNorth sees U.S. community and regional banks as good prospects for its lending technology. ... Read full article
Direct lenders ready to step in where Brexit makes banks retreat
Direct lenders are gearing up for more business in the U.K. as they see banks shrinking their sterling corporate loan books in the wake of Brexit-linked volatility and slower economic growth. ... Read full article