Bradford-based non-standard finance lender, Vanquis Bank, says its turnaround strategy is on track with the business moving into a “profitable growth phase”, as it issues results for the year ended 31 December 2024. It has reported a statutory pre-tax loss of £136.3m (2023 £12m loss), with net interest income decreasing 5% to £420m, leading to
United States President, Donald Trump, is ready to impose more restrictions on Russia’s oil, gas and banking sectors. CBS News reports that Trump’s plan is to restrict Russian access to US payment systems, according to four people familiar with the plans. On Wednesday, the Treasury Department let lapse a 60-day exemption put in place by
The Senate Banking Committee passed the GENIUS Act on Thursday, a bill creating a regulatory framework for stablecoins, with an 18-6 vote. This moves the bill to the Senate floor, where lawmakers will decide whether to send it to President Donald Trump for approval within his first 100 days in office. Senator Bill Hagerty led
EDITORIAL: Moody’s, one of three major international rating agencies, whose ratings determine the rate at which foreign capital can be accessed, noted on 12 March 2025 that “we have changed our outlook on Pakistan’s banking system to positive from stable to reflect the banks resilient financial performance as well as improving macroeconomic conditions from very
A banking hub has opened in Dorking as part of a scheme to protect face-to-face financial services. Customers from all major banks will be able to withdraw and deposit cash from the hub, currently based in Mole Valley District Council’s Pippbrook Building in Reigate Road, as well as organise face-to-face meetings with some banks on
Senate Banking Committee Chair Tim Scott tackles Hagerty’s GENIUS stablecoin legislation despite … [+] Senator Elizabeth Warren’s pushback. CQ-Roll Call, Inc via Getty Images The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) took a major step toward becoming law after passing the Senate Banking Committee in a bipartisan 18-6 vote. Sponsored
Senate Banking Committee Chair Tim Scott tackles Hagerty’s GENIUS stablecoin legislation despite … [+] Senator Elizabeth Warren’s pushback. CQ-Roll Call, Inc via Getty Images The Guiding and Establishing National Innovation for U.S. Stablecoins Act, called the GENIUS Act, took a major step toward becoming law this week after passing the Senate Banking Committee in a
Putin on Ukraine ceasefire deal Putin says he agrees in principle to Ukraine ceasefire, points out issues pending 05:14 Washington — The Trump administration is placing more restrictions on Russia’s oil, gas and banking sectors by further restricting Russian access to U.S. payment systems, according to four people familiar with the plans. The Treasury Department
Alvin Huang, the founder of Singapore-based Truegenics, a company specialising in health and beauty products for the US market, first discovered WorldFirst in 2017. Although initially unsure about using fintech for cross-border money transfers, he was later convinced after his company saved six figures, thanks to the global payment platform’s competitive foreign exchange rates. “We
The Social Security Administration (SSA) is implementing significant changes that will affect millions of people who rely on the agency’s telephone services. Effective March 29, Social Security beneficiaries will no longer be able to update their bank account information over the phone. Officials stated that this change is part of a broader initiative to reduce