LONDON (Reuters) - Financial technology firm Revolut has received a UK banking licence with some restrictions, it said on Thursday, ending a three-year wait for the authorisation and removing regulatory uncertainty that had held back its ambitions in Britain. London-based Revolut is one of a handful of financial services apps...

Revolut Gets UK Banking Licence After Three-Year Wait

PYMNTS

British payments firm Sokin is planning to expand following an investment by Morgan Stanley. Investment funds managed by the banking giant had purchased a stake in Sokin, the company announced Wednesday (July 24), designed to speed its expansion. “Sokin was founded in 2019 with a simple vision to remove the...

Morgan Stanley Buys Stake in UK Payments Firm Sokin

Big banks in the US are boosting the amount of cash they’re handing to new customers as the fight for deposits intensifies for the first time in years. JPMorgan Chase and Wells Fargo in particular are battling it out to curb deposit flight triggered by the Federal Reserve’s interest rate hikes, reports the Wall Street Journal.

JPMorgan Chase and Wells Fargo Offering $300 Cash As Banks’ Battle for New Deposits Intensifies for First Time in Years: Report

On the African continent, Rand Merchant Bank (RMB) strives to exceed the expectations of its clients by combining high levels of service with an exceptional technological platform to deliver effective sub-custody solutions covering all elements of trade transactions, as well as reporting and analytics. With the success of this approach, RMB is our regional winner in Africa and country winner in South Africa. RMB is a division of FirstRand Bank, one of Africa’s largest banking groups. Its custody franchise extends to Botswana, Ghana, Mozambique, Namibia, and Nigeria.

World’s Best Sub-Custodian Banks 2024: Regional Winners

Four major U.K. banks have been accused of violating a regulator’s competition rules. The Competition and Markets Authority (CMA) says HSBC, Lloyds, TSB and AIB all breached a 2017 order created in response to competition concerns in the retail banking sector. The order requires banks to follow strict rules...

UK Banking Giants Accused of Breaching CMA Rules

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Apple got a little bit of respite from its China woes in March and April when it made headlines for improving iPhone sales in the country. The company even briefly beat its Chinese competitors when it offered steep discounts on its smartphones during an online shopping festival in May. Suggested...

Apple's iPhone discounts in China aren't helping

New York Post

A top JPMorgan Chase executive warned the bank’s 86 million customers that their currently free checking accounts may soon carry a fee, according to a report.

Marianne Lake, CEO of consumer and community banking at JPMorgan Chase, pinned blame for potentially the added burden on Washington regulators — who have pushed an $8 cap on credit-card late payment fees and a $3 cap for over-drafting bank accounts.  

The Consumer Financial Protection Bureau passed the new caps in March, but it is being appealed by a coalition of bank industry groups who sued to stop it before it could becomes law. 





Why...

JPMorgan warns customers they may have to pay for checking accounts

Virginia State

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

Abu Dhabi Commercial Bank PJSC (ADCB) is set to bolster its strategic footprint in Central Asia’s thriving $1.751 trillion economy by launching a corporate banking hub in Kazakhstan. Utilizing its extensive network and expertise, ADCB aims to support businesses fueling Central Asia’s rapid economic growth, driven by major infrastructure...

ADCB Expands Corporate Banking Operations in Central Asia with $1.751 Trillion Investment

Parents are spending less on retail purchases each month, as budget pressures demand cost-cutting measures. The recent PYMNTS Intelligence exclusive report “The Last Transaction: Family Spending Habits Reveal Merchant Opportunities in Retail and Travel” drew from a May survey of more than 2,700 U.S. consumers in conjunction with data from previous months to understand recent shifts in purchasing behaviors.

Single Parents’ Retail Spending Plunges 35% in One Month

California State

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The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

Jessica Serfitay flips the script on her previous statement. Virginia soap fans, Soap Opera News reports that Jessica Serfitay (ex Sloan Petersen) on Days of Our Lives posted on social media that her billionaire fiancé had abused her. The actress now says they argued as families do, and she never should have posted anything.

Days of Our Lives alum Jessica Serfitay retracts her statement that her fiance abused her

Pennsylvania State

Bucks County Beacon

With an assassination attempt on Donald Trump at a rally in Pennsylvania on July 13, 2024, the U.S. experienced another violent episode in its increasingly polarized politics. Former President Trump, who’s about to formally become the GOP nominee for president in the 2024 election, survived the attempted assassination when, initial reports said, a bullet grazed his ear . But one rally attendee was killed , more spectators were injured and the suspected gunman is also dead. The Conversation’s politics editor, Naomi Schalit, spoke with University of Massachusetts, Lowell, scholar Arie Perliger after the event. Perliger offered insight from his study of political violence and assassinations. Given the stark political polarization in the U.S., Perliger said, “it’s not a surprise that eventually people engage in violence.”

‘One Inch from a Potential Civil War’? Trump Shooting a Close Call for American Democracy

Ronkonkoma, NY

The New York Post reveals that two men who died in a plane crash at MacArthur Airport were from Virginia. The men had been visiting friends in Long Island and were returning home when the tragedy occurred.

Life partners from Virginia have been identified as the victims of a New York plane crash

South Carolina State

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Town Talks

Navigating North Carolina's Rules on Sleeping in Your Car. As night falls and exhaustion sets in during a long drive, the urge to pull over for a quick nap becomes strong. However, travelers on North Carolina’s highways should be aware that a roadside snooze might come with legal complications.

Is It Illegal To Sleep At A North Carolina Rest Area, Here is What You Need to Know

North Carolina State

Having a functioning air conditioning unit is essential during the hot North Carolina summers. For those living in apartments or rental properties, the lack of a reliable AC unit can make it difficult to feel comfortable.

Are landlords required to provide air conditioning for North Carolina tenants? Here’s the law

NewsByJoshua

If you’ve been following the electric vehicle (EV) scene, you might have heard some concerning news about SK On, the South Korean battery manufacturer. They’ve hit a bit of a rough patch due to lower-than-expected sales of electric vehicles in key markets like Europe and the U.S. Let's dive into what’s going on and why it matters.

Battery Manufacturer Declares Urgency Due to Low EV Sales, Says Financial Times

Backlash to LGBTQ+ progress has increased substantially in Pennsylvania and across the U.S. in recent years. From attacks on LGBTQ inclusion in public schools and threats against drag queen story hours to mounting anti-LGBTQ legislation, right-wing extremists have used disinformation and conspiracies to try to erode the rights and liberties and even safety of queer and trans Americans.

As Anti-LGBTQ Backlash Grows, Advocates Say There Is ‘Hope’ In Action

Consumer caution does not seem to be hurting the Coca-Cola Company. The food and beverage giant released earnings Tuesday (July 23) showing its organic revenues growing 15%, with management still acknowledging some signs of consumer hesitancy. Speaking to analysts on an earnings call, CEO James Quincey discussed consumer behavior during...

Coca-Cola’s Revenues Grow 15% Despite ‘Soft Spots’ Among Consumers

NewsBreak

Revolut Finally Lands British Banking License

After a three-year wait, Revolut has secured a banking license in its home country. The British FinTech announced Thursday (July 25) that it had been granted...

Revolut Finally Lands British Banking License

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