The FOS is an independent body with responsibility for deciding on complaints against firms that provide financial products and services. The highest amount the ombudsman can award went up this year to £445,000, a substantial increase from the £150,000 limit before April 2019. The FOS received 141,846 new complaints between July 1 and Dec. 31,
Follow us on Instagram, TikTok, and WhatsApp for the latest stories and breaking news. Malaysian banks will start imposing an 8% service tax on certain financial services starting 1 July 2025, under the new expanded sales and service tax (SST) This rollout will be carried out in phases, in accordance with official guidelines from the Royal Malaysian Customs Department,
Open this photo in gallery: The Bay Street Financial District in Toronto. The domestic stability buffer also affects the minimum capital levels that a bank is expected to hold.Nathan Denette/The Canadian Press Canada’s banking regulator has held steady the capital cushion that the country’s largest lenders must reserve, signalling that financial institutions are withstanding the
US Senator Tim Scott, chair of the Senate Banking Committee, said the chamber would be aiming to pass legislation for digital asset market structure “before the end of September.” In a Thursday “fireside chat” with Wyoming Senator Cynthia Lummis and White House crypto adviser Bo Hines, Scott said “for the market to function completely,” Congress
Chairman of the US Federal Reserve Jerome Powell speaks with Fed vice chair for supervision Michelle Bowman (L), as he chairs a Federal Reserve Board open meeting. Photo: SAUL LOEB / AFPSource: AFP The US Federal Reserve released plans Wednesday to relax a key capital rule for major banks, a move they say can help
Deep Varma is the chief technology officer at Alkami. getty How Americans conduct their banking has drastically changed with the advent of digital banking technologies. One significant shift, for instance, has been banks and credit unions rethinking the role of physical branches as more and more account holders make deposits, monitor spending and manage accounts
Key Takeaways Barclays has prohibited customers from using their cards for any crypto transactions. The move is a risk mitigation strategy and reflects Barclays’ cautious stance toward crypto-related activities. Share this article British banking giant Barclays will stop processing crypto transactions on its credit cards starting Friday, June 27, according to a notice published on
ISLAMABAD: The Pakistan Banks Association (PBA) has expressed full support for the federal budget 2025–26, describing it as a significant step towards inclusive growth and economic stability. In a press release issued on Wednesday, the PBA emphasised that the banking sector, as a key partner in Pakistan’s economic development, continues to play a vital role
New Customer Win Brings Cutting-edge Support to Kachinga’s Offerings and Accelerates Sensedia’s Market Expansion MIAMI, June 25, 2025–(BUSINESS WIRE)–Sensedia, a leading API management and integration firm, today welcomed new customer Kachinga, a leading innovator in financial literacy for kids and teens, to enhance youth banking. High Yield Savings Offers Powered by Money.com – Yahoo may
In brief Senate Republicans on the Banking Committee have outlined principles for market structure legislation. The principles emphasise clarity around regulation, promoting innovation and consumer protection. It comes as Democrats attempt to prevent the Trump family’s extensive crypto investments. The Senate Banking Committee on Tuesday released a new set of principles aimed at guiding the