According to recent data, staff departing from the Bank of England (BoE) received £3m in “golden goodbyes” in 15 months, which are settlement payments offered to an employee as compensation for dismissal or compulsory redundancy.
A $3.9bn (£3.1bn) settlement deal has been struck between Goldman Sachs and Malaysia over losses the giant investment bank caused in the 1MDB corruption scandal.
River Financial has secured $5.7m in seed funding from investors such as Polychain Capital, Slow Ventures and Castle Island Ventures to build Bitcoin financial services.
Zopa, the world’s oldest peer-to-peer (P2P) lending platform, is set to become the first hybrid P2P lending and digital banking platform in the UK.
In the largest accounting scandal in postwar European history, Wirecard, the German fintech payment processor, faces allegations of fraud for fabricating over €1.9bn of cash.
The online app-based challenger bank Monzo has announced plans to cut up to 8% of its workforce, or 120 employees, due to the economic downturn caused by the coronavirus crisis.
Nationwide CEO Joe Garner says that a borrower's credit record should be marked with a temporary notice if they choose to take a further mortgage holiday in response to COVID-19.
UK financial markets regulator, the Financial Conduct Authority (FCA), has launched an investigation into whether sub-prime lender Amigo Loans is conducting appropriate creditworthiness assessments.
To counteract an expected economic contraction of 25% in Q2, the Bank of England (BoE) is considering an unprecedented move to take its base rate into negative territory to incentivise lending and thus stimulate the UK economy.
After just six months of operations, the Royal Bank of Scotland (RBS) has decided to shut down its digital banking brand, Bo.