Remove Capital Remove Management Remove Metro Remove Security
article thumbnail

FCA Questions Metro Bank Managers On Misreporting Scandal

PYMNTS

Metro Bank senior managers are being grilled by the U.K. The FCA first began investigating the high street bank in February after it miscalculated the capital needed for numerous loans. Six months later, the financial regulator said the probe was widened to involve “certain senior members of management.”

Metro 116
article thumbnail

Metro Bank UK: 2023’s Next Bank Collapse? | Samsung’s Trackable Card Unveiled | UBS Tests Tokenized Fund on Public Blockchain

Bussman Advisory

This week’s must-know stories: Metro Bank’s Financial Struggles: Will Metro Bank in the UK be 2023’s next banking collapse? UK’s Metro Bank shares plummeted by 31% following reports of its urgent need to raise funds to stabilize its finances. The post Metro Bank UK: 2023’s Next Bank Collapse?

Metro 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Metro’s Accounting Errors Cost Bank Top Clients

PYMNTS

Some of Metro Bank’s largest customers left the institution following revelations of accounting mistakes, according to Wednesday (May 1) reports in the Financial Times. “There has to be a new chief executive,” said one unnamed fund manager in an interview with the news outlet in January.

Metro 123
article thumbnail

Car Talk: Shift Announces Plans To Go Public

PYMNTS

IAC will change its name to Shift as the transaction proceeds and the Shift management team of CEO and Co-Founder George Arison and Co-CEO Toby Russell will stay in place. “We Arison said the move was about adding capital to scale the company. Securing that capital is even more complicated than the IAC merger.

article thumbnail

Delivering A Secure Seamless Banking Experience In The Age Of COVID-19

PYMNTS

Many CUs are doubling down on their efforts to digitize their services in a secure manner. The 83-year-old CU, which has 16 branches in the metro Phoenix area and holds $1.9 Establishing methods that replace face-to-face banking transactions with secure alternatives is an important need during these changing times, Vas Nunes noted.

Arizona 159
article thumbnail

Rising Delivery Costs Drives Houlihan’s Restaurant To Chapter 11

PYMNTS

York Capital Management and Mike Archer, a former president of Applebee’s and TGI Fridays, bought Houlihan’s in 2015 and now blames the chapter 11 filing on a number of factors, including expensive leases, a tight labor market and “the rapid growth in costly third-party delivery.”.

Metro 108
article thumbnail

High-Profile — But Secretive — Funding For B2B FinTechs

PYMNTS

For startups, 2016 wasn’t the best year in venture capital. VCs used 2016 to manage costs, set priorities and valuations,” explained Rahul Khanna, managing partner at Trifecta Capital, in an interview with Business Standard published Wednesday (Dec. They need to manage the burn, drift and cut losses.”.

Fintech 100