TheGuardian

JULY 26, 2023

Live coverage of business, economics and financial markets as UK bank replaces leader following late night board meeting This is why bank shares have dragged down the FTSE 100 in early trades this morning: a slump in profits at the UK’s biggest high street bank.

Groups 82

Groups Meeting Marketing Payments 82

PYMNTS

APRIL 9, 2019

The All-Party Parliamentary Group (APPG) on Fair Business Banking is calling for a new investigation into Lloyds and how much its executives knew about the ongoing mistreatment of small business customers by its HBOS unit. Hollinrake is also accusing Lloyds of deflecting questions as a result of that delay.

Fraud 122

Fraud Groups Report Regulation 122

TheGuardian

NOVEMBER 4, 2020

Bank urged to put restructuring plans on hold because of Covid second wave Lloyds Banking Group plans to cut a further 1,070 jobs despite reporting better-than-expected profits on the back of a UK mortgage boom less than a week ago.

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Groups Report 92

PYMNTS

DECEMBER 22, 2019

To regain trust following an independent review that deemed its compensation plan to not be “fair and reasonable,” and which had to be redetermined, Lloyds Banking Group is to make a special £35,000 ($45,547.60 Lloyds is reportedly working to “build bridges” with victims following the criticism, per FT. . “A

Fraud 130

Fraud Groups Report Management 130

PYMNTS

JULY 30, 2018

financial institution Lloyds was criticized by lawmakers Monday (July 30) over its program to compensate small business victims of fraud related to the bank’s HBOS unit. The letter accuses the FI of “victim blaming” and highlights the small business compensation program’s “unfairness.”. “We

Fraud 100

Fraud Groups Report Payments 100

PYMNTS

FEBRUARY 19, 2019

Lloyds Banking Group, the U.K. bank, announced Tuesday (Feb. In a press release, Lloyds Banking said the new pilot scheme will result in local retailers getting paid to offer cash back to customers in their stores. As it stands now, business owners do not receive a fee when providing cash back to customers.

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ATM Groups Retail Mobile 130

TheGuardian

SEPTEMBER 9, 2020

Banking group had put changes on hold because of Covid-19 pandemic Lloyds Banking Group is to cut 865 jobs across the UK as the high street lender revives restructuring proposals made before the Covid-19 pandemic. Related: Lloyds reviews use of office space amid homeworking trend Continue reading.

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PYMNTS

AUGUST 30, 2020

s banks reconfigure their branches to accommodate a COVID-19 world, some are converting portions of the underused real estate into office space. The Financial Times (FT) reported some banks will use the branches as an alternative to high-rise headquarters. The EU’s largest banks estimated there will be at least 23 billion euros ($26.8

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Metro Maine Resources Strategy 188

Chris Skinner

AUGUST 30, 2016

Things we’re reading today include … More banks plundered through SWIFT attacks Westpac bank launches Databank data protection service Barclays sells its Italian banking business to Mediobanca for a £258m loss Is now (finally) the right time to buy Lloyds Banking Group plc?

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Taxes Apple Groups Data 171

TheGuardian

MAY 10, 2020

Exclusive: UK subsidiary caught in bank’s tangle over government-backed loans Coronavirus – latest updates See all our coronavirus coverage Lloyds Banking Group is rushing to fix a fault that left subsidiaries of foreign companies struggling for weeks to gain access to UK government-backed loans during the coronavirus crisis.

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Groups Management Company 72

TheGuardian

JUNE 23, 2021

Unions criticise decision to shut 29 Lloyds and 15 Halifax branches, taking closures to 100 this year Lloyds Banking Group is shutting a further 44 Lloyds and Halifax branches, sparking criticism from trade unions which say the lender is denying vulnerable consumers and small businesses of essential services.

Groups 53

Groups 53

PYMNTS

JULY 1, 2020

businesses, especially small to medium-sized enterprises (SMEs). Two months ago, the Treasury had asked for feedback on the scheme to help funnel more money to businesses hurting for cash in the pandemic. The program was nixed after ministers decided it wouldn’t be likely to really help the majority of U.K.

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Guidelines Community Regulation Groups 227

TheGuardian

FEBRUARY 21, 2023

Rises in interest rates are driving unemployment, low wages and poverty while the banks make record profits and hand out huge bonuses Another week, another corporate monopoly recording huge profits off the backs of millions struggling to pay bills, feed their families and keep the lights on.

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Taxes Groups Report Payments 75

PYMNTS

JULY 24, 2017

As Lloyds Banking Group explores how to compensate small business owners affected by banking and insurance company HBOS’ bribery scandal, the U.K.-based Reports said Lloyds had denied allegations of prosecution until January, when six people were found guilty of bribery and fraud. ”

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PYMNTS

DECEMBER 2, 2020

In today’s top news in digital-first banking, Revolut is introducing a new function in the U.K. Plus, Aareal Bank Group is rolling out its Aareal Exchange & Payment Platform (AEPP) offering. The solution will initially launch in the United Kingdom market, with Lloyds Banking Group the first to go live.

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Miami Online Groups America 142

PYMNTS

MARCH 2, 2020

Cloud-native London FinTech startup Thought Machine has raised $83 million in a Series B funding round led by Draper Esprit, with participation from existing investors Lloyds Banking Group, IQ Capital, Backed and Playfair, Thought Machine announced on Monday (March 2).

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blockchain Groups America Google 141

PYMNTS

FEBRUARY 7, 2017

policymakers are calling on top bank Lloyds to compensate SMEs that were scammed by HBOS in a scheme before Lloyds acquired the banking unit in 2009. Those small businesses were also stripped of assets, with many being driven to bankruptcy, reports said. Now, MPs want Lloyds to pay for the wrongdoing. “We

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Fraud Groups Report Management 100

PYMNTS

MARCH 22, 2017

Lloyds moved closer with possible plans to compensate small businesses affected by the HBOS bribery scandal. According to Lloyds, Professor Griggs will be establishing “the scope, methodology and individual case outcomes of the review in order to ensure fair outcomes.”. Professor Griggs used to serve as chairman of the CBI U.K.

Groups 100

Groups Report Industry Payments 100

PYMNTS

NOVEMBER 6, 2020

Supermarket group Sainsbury's is planning to slash 3,000 jobs, according to a Times report on Friday (Nov. The group's Argos business will see the most layoffs. prompted merchant John Lewis and Lloyds Banking Group to roll out redundancy plans. Sainsbury's purchased Argos in 2016 for £1.4 billion. . “As

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Leadership Community Groups Report 167

TheGuardian

DECEMBER 14, 2021

Independent review finds City regulator changed compensation rules after pressure from UK banks Sajid Javid and George Osborne put pressure on the City’s financial regulator to reduce compensation payouts from big banks to small business victims of a mis-selling scandal, an independent review has found. Continue reading.

Regulation 79

Regulation Groups Payments 79

TheGuardian

JULY 29, 2020

Personal and business customers struggling to keep up with loan payments transform lender’s performance Lloyds Banking Group plunged to a second-quarter loss after putting aside £2.4bn for bad debts, forcing the bank to acknowledge that supporting customers through the Covid-19 crisis would come at a cost.

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PYMNTS

APRIL 1, 2020

government is seeking an agreement with financial institutions (FIs) to forgo the need for small businesses to offer personal guarantees to get coronavirus loans, the Financial Times reported. million) to businesses that have under 45 million pounds ($55.8 Last month, a U.K.

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PYMNTS

APRIL 10, 2017

.’s Financial Conduct Authority (FCA) announced it is reopening an inquiry into Lloyds’ HBOS scandal as the bank revealed plans to set aside $124 million for small businesses impacted by the matter, reports said Friday (April 7). “That this is taking so long is regrettable but understandable.”

Fraud 100

Fraud Report Groups Payments 100

PYMNTS

NOVEMBER 8, 2018

banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs). The new guidelines, developed by the British Standards Institute (BSI), aim to address issues that interfere with FinTech firms and banks forming alliances.

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Guidelines Fintech Retail Financial Technology 192

TheGuardian

JULY 30, 2020

Times change, and these days it is not a manufacturing giant like ICI but a high street bank that has taken on the role of the economy’s bellwether. If what’s happening at Lloyds Banking Group really is a reflection of what is happening to the UK as a whole – and there is a good argument for that – there is plenty to be concerned about.

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Lending Groups Industry Cards 52

PYMNTS

OCTOBER 5, 2020

Europe’s Monese , which touts itself as a mobile-first, multi-lingual, transnational provider of consumer and business banking services that operates in 31 countries using 14 languages, is adopting Thought Machine ’s cloud banking platform, the companies announced on Monday (Oct. The platform is called Vault. “At

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Maine Groups Google Innovation 111

PYMNTS

MAY 9, 2019

The banking regulator in Hong Kong has issued an additional four online-only banking licenses to Ping An, Alibaba, mobile phone maker Xiaomi and a joint venture (JV) consisting of Tencent, ICBC and Hillhouse Capital. Insight Fintech is a JV with Xiaomi and investment bank AMTD Group. Expect fireworks.”.

Online 171

Online Capital Regulation Fintech 171

PYMNTS

JULY 12, 2020

Travelex founder Lloyd Dorfman , in a show of confidence in the U.K. Derwent London is handling development, and the building will include office space likely to be used by Dorfman’s The Office Group , Bloomberg reported. capital’s office market, has bought an office in London, Bloomberg reports. billion in total debt.

Marketing 168

Marketing America Capital Report 168

PYMNTS

DECEMBER 28, 2016

Royal Bank of Scotland may be the bank most happy about the end of 2016. RBS failed stress tests imposed by the Bank of England, and Santander — for the second time — decided not to go through with a planned acquisition of some of RBS’ branches. The group then allegedly forced many of the companies into insolvency. “We

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Guidelines Groups Policies Report 100

Chris Skinner

MAY 14, 2017

This week’s main blog headlines are … The legacy clock is ticking Further to my recent trip to Pakistan Business Recorder (their version of The Financial Times) interviewed me in depth about what is happening in FinTech. I’m very sceptical about competition in banking because I’ve been waiting for it to happen for too long.

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Bitcoin Fintech Maine Fraud 171

Insights on Business

JUNE 21, 2016

So I do feel like there is an Uber moment for banks.”. Large retail banks are feeling the same pressures as many other industries who have been “ubered” over the last few years. Digital disruption is reaching into their business too – new payment methods, mobile transactions and the sharing economy risk leaving them redundant.

Groups 123

Groups Industry System Community 123

PYMNTS

MAY 29, 2019

A group of U.K. financial institutions are signing a voluntary code to refund consumer and small business victims for fraud schemes, the BBC reported on Tuesday (May 28). Reports said an estimated 84,000 bank customers lost money to fraud schemes, which tricked victims into transferring money to cybercriminals.

Fraud 122

Fraud Groups Report Meeting 122

Insights on Business

JUNE 21, 2016

So I do feel like there is an Uber moment for banks.”. Large retail banks are feeling the same pressures as many other industries who have been “ubered” over the last few years. Digital disruption is reaching into their business too – new payment methods, mobile transactions and the sharing economy risk leaving them redundant.

Groups 122

Groups Industry System Innovation 122

Accenture

JUNE 18, 2019

The UK banking industry’s focus on commercial banking for small- and medium-sized enterprises (SMEs) is now at its most intense in more than a decade. All of this is happening at a time when automation in retail banking has advanced apace, opening up opportunities to replicate the benefits of digital in commercial banking.

Management 170

Management Retail Groups Technology 170

PYMNTS

NOVEMBER 2, 2017

In business banking news, the U.K.’s ’s Financial Conduct Authority (FCA) plans to propose an extension of its jurisdiction from serving individuals and micro-businesses to also include small and medium-sized businesses (SMBs).

How To 128

How To System Report Groups 128

PYMNTS

JULY 28, 2016

Reports by Financial Times on Tuesday (July 26) said major financial institutions are considering new fees associated with business bank accounts. HSBC, Lloyds and Royal Bank of Scotland have reportedly added new language in their customer terms that allows them to charge fees to businesses for their deposit accounts.

Lending 100

Lending National Report Groups 100

PYMNTS

JANUARY 24, 2017

The financial advisors at deVere Group are launching their own private bank in the U.K. 23) that it is launching its own private bank , deVere Group Bank St Lucia, and is reportedly the first private bank to be owned by an independent financial advisory company. A slew of new banks have popped up in the U.K.

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