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Co-operative Bank to axe 400 jobs in bid to cut costs

TheGuardian

Lender says move is unrelated to takeover talks with Coventry Building Society The Co-operative Bank has unveiled plans to cut 400 jobs as part of the lender’s largest cost-cutting and restructuring programme since it was bailed out by hedge funds in 2017.

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Co-operative Bank in merger talks with Coventry Building Society

TheGuardian

It signals the most serious sign yet that the Co-operative Bank’s hedge fund owners could exit the bank, after spending £700m on rescuing it in 2017. Continue reading.

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Operation Choke Point 2.0

Jeff For Banks

In 2012 the Obama administration launched "Operation Choke Point" ("OCP") which was designed to ensure banks considered the risk of banking payday lenders that were engaged in abusive practices. OPC formally ended in 2017. It has since been modified and the list removed because it was too obvious what they were doing.

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Things worth reading: 30th May 2017

Chris Skinner

Things we’re reading today include … Brexit: French officials in ‘serious’ talks with banks about leaving London Singapore’s central bank fines Credit Suisse, UOB over AML breaches Are banks about to operate completely online? The post Things worth reading: 30th May 2017 appeared first on Chris Skinner's blog.

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Things worth reading: 7th August 2017

Chris Skinner

Banks issue new sort codes in ringfencing of high street operations China’s bank regulator lets crackdown deadline slip over stability worries Australian bank: Buggy software made us miss money laundering scam Consumer spending suffers longest decline in four years, raising … The post Things worth reading: 7th August 2017 appeared first (..)

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U.S. Bank Wants To Remove Passwords From Login in 2017

Bank Innovation

Bank, recognizing that, has set a target: removing passwords “altogether” from the login process in 2017, according to Jason Witty, the Read More. Biometrics and behavioral analytics are taking over banking apps for good, and U.S.

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Judge To Decide Whether Uber Can Operate In London

PYMNTS

Bloomberg News reported that Transport for London (TfL) will stay neutral and let the court decide whether Uber can operate in its biggest European market. Citing that Uber was unfit to hold a license, TfL suspended the company’s operations last November. In a filing for a court hearing on Friday (Aug.