DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Nigel Farage - 3 Coutts - 2 Alison Rose - 2 Rose - 2 Banks - 2 Andrew Griffith - 2 Andre Spicer - 1 Howard Davies - 1
Top related locs:
America Banks Britain
Top related orgs:
NatWest - 3 Treasury - 3 Thomson - 3 Financial - 2 Financial Ombudsman Service - 2 Brexit Party - 1 Bayes Business School - 1 Coutts - 1

Search resuls for: "Financial Ombudsman Service"


4 mentions found


☆ Analysis: UK banks back in political crosshairs after Farage fiasco
  + stars: | 2023-07-28 | by ( Sinead Cruise Iain Withers Lawrence White | Sinead Cruise | Iain Withers | ) www.reuters.com   time to read: +6 min
"The culture wars are coming to UK businesses, including the financial sector," said Andre Spicer, dean of City University's Bayes Business School. It also cited "risk factors including... controversial public statements which were felt to conflict with the bank's purpose". However, data from watchdog the Financial Ombudsman Service showed complaints about account closures represented a tiny fraction of a bank's overall customer base. Experts say other banks will now be scrambling to ensure their own policies and committees are behaving appropriately, to avoid further scandals. The CEO of Britain's biggest domestic bank Lloyds said on Wednesday the bank's own policies did not include looking at customers' political or personal beliefs.
Persons: Nigel Farage, Coutts, Andre Spicer, Howard Davies, Alison Rose, Rose, Peter Flavel, Charles Dickens, Queen Elizabeth II, Spicer, Harriet Baldwin, Bill Winters, Samuel Gregg, Banks, Gregg, University's Spicer, Rupert Younger, ", Sinead Cruise, Iain Withers, Lawrence White, Daniel Wallis Organizations: Brexit Party, NatWest, Bayes Business School, Coutts, Treasury, Bank of England, BBC, Standard Chartered, Farage, American Institute for Economic Research, Facebook, Financial, Service, Barclays, Lloyds, Centre, Oxford University's Said Business School, Thomson Locations: America
☆ NatWest goof is a boon for sketchy bank clients
  + stars: | 2023-07-21 | by ( Liam Proud | ) www.reuters.com   time to read: +5 min
LONDON, July 21 (Reuters Breakingviews) - A row between right-wing talking head Nigel Farage and UK bank NatWest (NWG.L) could have much broader consequences. Last November, a reputational risk committee of NatWest’s exclusive private bank Coutts decided to ditch Farage by summer 2023. After closing the Coutts wealth account, NatWest offered Farage a standard one at the parent group instead, for example. But for now the biggest winners from the Farage-Coutts row seem to be sketchy UK bank customers. Briefing papers presented to Coutts’ wealth reputational risk committee said Farage was “considered by many to be a disingenuous grifter”.
Persons: Nigel Farage, Alison Rose, Farage, Coutts, didn’t, Rose, Andrew Griffith, Coutts ’, “, ” Farage, George Hay, Oliver Taslic Organizations: Reuters, NatWest, Conservative, Treasury, Financial Ombudsman Service, Twitter, UK Independence Party, Thomson
☆ UK tightens rules over bank account closures after 'debanking' criticism
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: +1 min
LONDON, July 20 (Reuters) - Banks in Britain will be forced to explain and delay any decision to close an account under new rules announced by the finance ministry on Thursday. "The government has stepped in to address fears that banks are terminating accounts because they disagree with someone’s political beliefs," the Treasury said in a statement. On Wednesday, the Financial Conduct Authority said it was talking to NatWest about the handling of Farage's accounts. Under the new rules, banks will need to explain any closure and customers will be given more time - 90 days - to challenge a decision through the Financial Ombudsman Service, or find a replacement bank, the Treasury said. Reporting by William James, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.
Persons: Nigel Farage, Banks, Andrew Griffith, William James, Kylie MacLellan Organizations: Treasury, Financial, Authority, NatWest, Financial Ombudsman Service, Thomson Locations: Banks, Britain
☆ Britain sets out legislation to regulate buy-now-pay-later credit
  + stars: | 2023-02-13 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, Feb 13 (Reuters) - Britain on Tuesday will set out draft legislation to regulate "buy now pay later" credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The finance ministry said it will launch a public consultation on Tuesday on legislation to regulate BNPL, giving the Financial Conduct Authority (FCA) powers to authorise operators and their activities. Last February, the FCA told BNPL operators Clearpay, Klarna, Laybuy and Openpay to change their contracts after identifying potential harm to customers. It had to use consumer rights law pending the new legislation the ministry was announcing on Monday.
0 next >>
Total: 4