The Financial Conduct Authority (FCA) has presented the Royal Bank of Scotland, the National Westminster Bank and Ulster Bank with fines amounting to £42 million collectively. What did the banks do wrong? These charges, which were announced late last month, are essentially punishment for an IT failure that occurred in summer 2012 – when a … Continued

The Financial Conduct Authority (FCA) has announced that it intends to fine the Royal Bank of Scotland (RBS) tens of millions of pounds for an IT failure that occurred two years ago. In June 2012, RBS customers suffered as a result of a glitch in a software update. The bank's payment-processing system was corrupted, and … Continued

Credit analysts can be found in all kinds of organisations and sectors. Essentially their primary role is to assess the 'credit worthiness' of clients – in other words, they evaluate the client's ability to make payments for products and services on time. Credit analysts ascertain whether or not working with a particular client poses any … Continued

The Financial Conduct Authority (FCA) has confirmed its plans to introduce caps on payday loan rates, and has outlined the specific restrictions it will put on payday loan companies. It has long been reported that the City regulator is dissatisfied with the current rules, as it believes they allow consumer credit companies to take advantage … Continued

The Co-operative Bank has reported a pre-tax loss of £75.8 million from January to the end of June this year, in the first report the lender has produced since it revealed in April that there was a loss of £1.3 billion in 2013. The bank, which is still very much in a state of recovery … Continued