Retail banking
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Mills Review shows FCA positive but cautious about AI use in financial services
The review represents a shift from monitoring AI to assessing long-term impact on markets and consumers.
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BoE plans to increase retail deposit leverage ratio to £70 billion
Another indication that the regulators are listening to the government’s message on prioritising economic growth.
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Lloyds Bank warns of worrying rise in UK conveyancing fraud
Increasing numbers of UK homebuyers have been targeted and tricked into sending their property deposit to fraudsters.
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Denial of accounts to sex workers by banks raises safety concerns
Sex workers face financial exclusion as UK banks close their accounts, fearing violations of anti-money-laundering rules.
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FCA says bank accounts were not closed for political reasons
The FCA today published the findings of its initial data exercise on bank account access and closures in a report titled UK Payment Accounts: access and closures review.
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Multiple security flaws found in UK retail banks’ digital services
Cyber security flaws still too prevalent in retail bank offers, says consumer rights group.