The U.K. is moving forward with plans to develop a dispute resolution service (DRS) for small businesses (SMBs) mistreated by banks, but reports in the Financial Times said the head of that initiative is now facing accusations of a conflict of interest. The publication said...
The Clydesdale and Yorkshire Banking Group (CYBG) brand is going into retirement after its merger with Virgin Money, which will have its name lead the revamped U.K. financial institution (FI), reports in the BBC said on Wednesday (June 19). CYBG, which announced its takeover of...
The U.K.’s board of Banking Competition Remedies (BCR) has announced the next round of winners of the Royal Bank of Scotland (RBS) funds set aside to bolster small business (SMB) banking competition. Reports on Tuesday (May 14) said that Nationwide Building Society, Investec Bank and...
After months of controversy, the U.K.’s Banking Competition Remedies has awarded the first batches of the Royal Bank of Scotland’s $1 billion fund to competing banks in an effort to boost competition in the market, particularly for small to medium-sized business (SMB) services. But the...
June 19, 2018
CYBG, the owner of Clydesdale Bank and Yorkshire Bank, is buying Virgin Money for £1.7 billion. According to BBC, as a result of the deal, all the group’s retail customers will be moved to Virgin Money over the next three years. It will become the U.K.’s sixth-largest bank, with about six million customers. While the […]
