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INSANE: 41 | Vintage Vibes

Exiled pro-democracy Hong Kong activists blocked from accessing pensions

Case raises questions about complicity of western financial institutions in persecution of Chinese government critics

The Guardian - UK

JPMorgan Chase commits $6 Million Investment to expand Latino homeownership opportunities

Philanthropic funding will support UnidosUS capacity building and their HOME (Home Ownership Means Equity) initiative

Latin Times

Treasury Department Warns Against State Laws Restricting Banks

Treasury Department warns against state laws limiting banks from considering ESG factors, citing national security risks.

Top News

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NatWest makes banking app available on Apple’s Vision Pro headset

Personal banking customers of NatWest and its sister brands, Royal Bank of Scotland and Ulster Bank, will be able to use the technology.

The Independent UK

Canary Wharf Group to carve chunks out of HSBC tower after bank leaves

Revamp of 42-storey block when bank moves out in 2027 will include new terraces and leisure facilities

The Guardian - UK

‘More politicised than any other bank’: HSBC’s new boss prepares to ride the Chinese tiger

Georges Elhedery learned Mandarin in preparation for the top job, a sign that he grasps exactly where his lender’s strength and weakness lie

The Guardian - UK

Nationwide admits it faces ‘challenges’ in years-long Virgin Money merger

The building society defended the £2.9 billion takeover to members during its annual general meeting on Wednesday.

The Independent UK

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HSBC Names CFO Elhedery As Next Chief Executive

HSBC on Wednesday named chief financial officer Georges Elhedery as the bank's next chief executive to drive "the next phase of development and growth".

International Business Times

Lloyds Bank sued for discrimination by employees disciplined over pro-Palestine views

Afra Sohail and Aunngbeen Khalid were subject to disciplinary action for their comments by their employer Lloyds Bank

The Independent UK

Disused Lloyds office sites to be converted into social housing

Exclusive: Bank launches project by selling Pudsey site as CEO says Labour’s commitment to sector is ‘clearer’ than last government’s

The Guardian - UK

Banks lashed for ripping off poorer customers

The market watchdog has slammed four major banks for causing financial distress to more than two million Australians by systematically overcharging on fees.

AAP

Aussie 'FinFra': Magic wand for technology trailblazers

Australia faces a deadline for decommissioning the decades-old payments system for handling wages, bills and welfare as the velocity of the economy increases.

AAP

Mixed Profits At US Banks Amid Weaker Signs From Low-income Customers

JPMorgan Chase and Citigroup reported increased second-quarter profits Friday despite somewhat higher costs to account for bad loans in light of greater stress on lower-income customers.

International Business Times

Wells Fargo Stock Falls Despite Q2 Beat: Buy, Sell or Hold?

Wells Fargo stock is down despite reporting better-than-expected second-quarter earnings results. Here’s what you need to know.

Kiplinger

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The Independent UK

Banking complaints reach highest level in a decade as current account gripes soar

Consumers brought 24,402 credit card complaints, mostly due to perceptions around unaffordable or irresponsible lending

The Guardian - US

Senators accuse JPMorgan’s Jamie Dimon of backtracking on climate commitments

Exclusive: Letter from senators, led by Elizabeth Warren, says JPMorgan may have misled investors and public

The Independent UK

Signs of household optimism as spending on holidays and entertainment increases

There were also signs of households cutting back on renovation projects and clothing, according to TSB.

AAP

Pacific banking bolstered with federal $6 million boost

Banking services in Pacific nations will be strengthened with $6.3 million from the federal government, as Australian financial services are urged to stay.

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International Business Times UK

Bank Teller Shares Why You Shouldn't Have Over $3K In Your Chequing Account: 'It's Not As Safe As You Think'

Checking accounts shouldn't hold a fortune! They miss out on interest and protections. Break up large sums for better growth and security.

AAP

Tax cuts, rates chatter to play into consumer sentiment

Consumer and business confidence surveys are due out this week and are likely to show ongoing weakness to reflect a waning economy.

The Guardian - UK

‘It’s very troubling’: thieves use vulnerable man to take out £28,000 bank loan

Metro Bank faces questions over safeguards and why victim was allowed to borrow such a big sum

The Independent UK

Nation’s largest bank Chase threatens to charge for checking accounts if government caps fees

Under the proposed government regulation, credit card late fees could be capped at $8 and overdraft fees could be capped at $3

The Independent UK

Major mortgage lenders chopping rates as competition heats up

Halifax, HSBC UK, Barclays, Santander and NatWest are among those to have made rate cuts this week, or outlined plans to do so.

AAP

'Deep flaws' in ASIC enforcement prompt calls for split

A bloated remit and chronic under-resourcing at Australia's corporate watchdog have been canvassed in a scathing parliamentary report.

The Independent UK

£235m expected to be withdrawn from ATMs as voters go to polls on Thursday

The predicted ATM withdrawal total is expected to be lower than it was on December 12 2019, when the last general election was held.

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