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Shares in British lender CYBG dropped 7 percent after the bank pledged to increase provisions by $ 498 million for repaying customers mis-sold payment protection insurance (PPI). According to CYBG, a mid-sized bank that owns Clydesdale Bank, Yorkshire Bank and the app-based bank B in the UK, an awareness campaign launched by British financial regulatory […]
No walk in the park JOHN CRYAN has spent almost three years on the thankless task of revitalising Germany’s biggest bank. Deutsche Bank’s shares fetch around €11 ($ 13.50) each. That is less than half their price when he became joint chief executive in July 2015 (he became sole boss 11 months later) and an […]
Elevate Elevate, a fintech lender serving nonprime borrowers, is looking to partner with a bank to produce a credit card with “significantly higher lines” of credit than what exists on the market today. The company, which announced earnings Monday, outlined a number of expectations for 2018 including new products and partnerships. Nationally, credit card defaults […]
(Reuters) — Kabbage Inc, a U.S. online lender for small businesses, said on Thursday it had raised $ 250 million in equity funding from SoftBank Group Corp, the latest fintech investment by the Japanese technology conglomerate. That is the largest equity investment in such lenders outside of China so far, according to data provider CB […]
Brent and Amanda I/Flickr In the housing bubble, just about anyone who could apply for a mortgage was able to get one. A decade after the crash, the largest lenders are loosening their standards again to make housing more accessible to first-time buyers. Fannie Mae, the largest US mortgage lender, is making it a little easier for […]
Bill Pugliano/Stringer/Getty Images (Reuters) – Home Capital Group Inc said billionaire Warren Buffett’s Berkshire Hathaway Inc will provide a new C$ 2 billion ($ 1.50 billion) line of credit to its unit Home Trust Co, ending the Canadian lender’s strategic review process. Berkshire will also indirectly buy C$ 400 million of Home Capital‘s common shares […]
LIKE other local bankers, Bob Rivers is counting the cost of red tape. At the end of 2015 and 2016 Eastern Bank, a Boston lender of which he is the chief executive, held its balance-sheet below $ 10bn by briefly parking some deposits elsewhere. Now Eastern—America’s oldest and largest mutual bank, founded in 1818—has crossed […]
Published time: 9 Apr, 2017 20:02 British payday lender Wonga has warned its customers in both the UK and Poland of a potential data breach which may reportedly affect up to 270,000 people. “Wonga is urgently investigating illegal and unauthorized access to the personal data of some of its customers in the UK and Poland,” […]
Enlarge (credit: jon collier) The Federal Trade Commission is investigating an auto lender that often requires subprime borrowers to have so-called GPS starter-interrupter devices enabled on purchased vehicles. The so-called kill switches, which can monitor a vehicle’s constant whereabouts, also have the remote ability to shut a car off and to prevent a car from […]
THE banking woes of Italy, the euro area’s third-biggest member, pale next to those that, four years ago, plagued Cyprus, its second-smallest. Now there is cause for cautious optimism. This month Bank of Cyprus, the biggest local lender, finished repaying €11.4bn ($ 12.2bn) of emergency liquidity assistance from the country’s central bank. It followed that […]
