Goldman Sachs wings turned to ashes by SEC
Posted by Cashzilla in Uncategorized, banking on 19. Apr, 2010 | No Comments
Image via CrunchBase
Oh, how the mighty banks have fallen.
Since Goldman Sachs started around 80 years, the phrase ‘Long-term greedy’ which was used by Sidney Weinberg, who was managing partner during the 1930s through to the 1960s, has been a sort of guiding mantra. This ‘Long-term greedy’ attitude helped the company grow from being a simple unknown [...]
Bank charges come back into legal spotlight following court ruling
Posted by Cashzilla in banking on 22. Feb, 2010 | 3 Comments
Image by kiki99 via Flickr
Bank charges could be set for another court battle after a ruling by a Glasgow Judge cleared the way for a proof hearing into determining whether bank charges are fair.
The Supreme Court verdict last November ruled the Office of Fair Trading could not assess bank charges under section 6 of the [...]
New FSA rules force financial firms to reveal complaint numbers
Posted by Cashzilla in Uncategorized, banking, credit cards on 29. Jan, 2010 | 1 Comment
Image via Wikipedia
Under new Financial Services Authority (FSA) rules, financial firms who collect an excessive amount of complaints against them are to be named and shamed reports MoneySavingExpert news.
Over a six month period companies who receive 500 or more complaints will, under the rules, have to publish the numbers of complaints twice a year so [...]
Cheques RIP
Posted by Cashzilla in banking, web on 16. Dec, 2009 | 1 Comment
Cheques are to be phased out by October 2018 if adequate alternatives can be developed in time according to the latest announcement from the board of the UK Payments Council.
This announcement comes after 350 years of cheque usage, however because of the use of credit, debit and contactless payment cards, alongside online shopping and banking, [...]
Bank charges verdict to be delivered next Wednesday
Posted by Cashzilla in banking on 17. Nov, 2009 | No Comments
Image by johnbullas via Flickr
Wednesday week (25th November) will be D-Day for the banks in the long-running bank charges saga after it was announced earlier today that the Supreme Court will deliver their ruling on the legal battle according to MoneySavingExpert.
Both the High Court and the Court of Appeal have ruled that charges can be [...]
HBoS power failure causes chaos for weekend shoppers
Posted by Cashzilla in banking on 16. Nov, 2009 | 1 Comment
Image via Wikipedia
Christmas shopping was disrupted for thousands of shoppers on Saturday following the nationwide failure of Halifax and Bank of Scotland ATM machines.
The holes-in-the-wall were rendered unusable from early Saturday morning to mid-afternoon after a power failure at an IT centre in Yorkshire occurred. The outage also affected access to customers’ accounts via [...]
Online pricing practices get OFT attention
Posted by Cashzilla in banking, credit cards, insurance on 15. Oct, 2009 | No Comments
It has just been announced that the Office of Fair Trading (OFT) will be investigating online pricing practices.
It’s been a long time coming and will lead to major changes for those seemingly ‘white knights’ of the finance world – the price comparison sites.
Image by –Tico– via Flickr
In the finance world, there is a little known [...]
RBS-NatWest cut overdraft charges from 1st October
Posted by Guest Dino in banking on 07. Sep, 2009 | 3 Comments
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Could this be the clearest indication yet that banks have admitted defeat in the long running bank charges saga? In a surprise move, the taxpayer-owned RBS-Natwest group has announced it will be slashing charges related to overdrafts – breaking ranks with the rest of the banking industry.
With a decision on whether the [...]
Tories want bank charges compensation repaid ‘quickly and fairly’
Posted by Guest Dino in banking, lifestyle on 27. Aug, 2009 | No Comments
A decision regarding the fairness of bank charges might still be weeks away, but customers who have been overcharged by banks should be compensated “quickly and fairly” says Conservative party leader, David Cameron in an Independent online article.
The case, which is currently undergoing discussion in the House of Lords could cost British banks billions of [...]
Nokia to enter world of finance with Nokia Money
Posted by Guest Dino in banking on 26. Aug, 2009 | No Comments
Image via Wikipedia
Better known for their mobile phones, Finnish telecoms giant Nokia is branching out – into the world of financial services.
In March this year, Nokia sank $70million into mobile payment specialist Obopay and Nokia will now be working alongside the company to develop services which will enable consumers to send and receive money via [...]
