Our biggest stories of the past week are ...
Is banking technology 'biological suicide'?
It’s been noteworthy that many banks and exchanges have been facing computer failures recently. There appears to be more and more of them. The best known one over here was the RBS glitch, but there have been many more over...
Standard Chartered paid off the new Sheriff of New York City, Benjamin Lawsky, to the tune of $340 million to get rid of the pest. As Investec's commentator Ian Gordon said yesterday, they “acted with pragmatism and integrity in the...
Square shakes up the mobile payments world more than most
There have been many announcements over the past week about mobile payments markets. From the Electronic Transactions Association’s launch of a Mobile Payments Committee to the Starbucks-Square joint venture and the final launch announcement of Movenbank, mobile finance is finally taking off big time. For example, Gartner estimate ...
Can UK banks match the Olympic dream?
The Olympic Games have ended. What will we do now? Back to reality? Back to LIBOR fixes, money laundering scandals and selling products you weren’t supposed to sell to muppets who weren’t meant to buy them? Or keeping the good..
The major general news stories of the past week include ...
Standard Chartered's Peter Sands takes the fight to Wall Street - The Telegraph
Standard Chartered has seen £6bn wiped off its value after US claims of 'secret' dollar trades for Iranian clients. Now its chief executive is battling to clear the bank's name
Standard Chartered sued by victims of 1983 US marine bombing - The Telegraph
Relatives of US marines killed by a bomb in Lebanon are suing amid claims the bank laundered compensation payments due to them from Iranian government.
Lawsky Seen as `Cowboy Regulator' in StanChart Case - Bloomberg
Chris Skinner, director of the Financial Services Club, discusses the money-laundering probes into Standard Chartered Plc overseen by Benjamin Lawsky, head of the New York Department of Financial Services.
New Barclays head quits NBNK board - The Independent
Sir David Walker, the new chairman of Barclays, has stepped down from the board of NBNK, the vehicle which tried and failed to buy 600-plus branches from Lloyds Banking Group.
Bankers should be paid less, says Barclays chairman - The Independent
The new chairman of Barclays has admitted that its bankers are paid too much and that massive bonuses have undermined the bank's ethical culture.
JP Morgan chief Jamie Dimon defends banks, says London Whale has been 'harpooned' - The Telegraph
JP Morgan chief executive Jamie Dimon has said the London Whale responsible for a $5.8bn trading loss has been "harpooned", as he defended the role of big banks in society.
Free banking claim 'ridiculous' - BBC
A claim that mis-selling at UK banks might have been avoided if fees were charged for accounts is branded as "ridiculous".
FSA's failures allow American regulators to close in on City - The Telegraph
A tale of two cities: from the best of times to the worst of times. In the space of just five years the reputation of the City of London has become tarnished to such a degree that there is a real risk that it may never properly recover.
Nick Clegg and Vince Cable 'want to restart bank reform talks' - The Telegraph
Deputy prime minister Nick Clegg and Business Secretary Vince Cable are leading a push to reopen talks on UK banking reform, according to reports.
Bank worker held over £700K theft - BBC
A man is arrested on suspicion of stealing £700,000 from cash machines at the bank where he works.
Olympic legacy: White elephant or economic viagra? - BBC
White elephant or economic viagra?
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
