Tag: banks

UK charity regulators urge banks to remove ‘avoidable frustrations’ for charities

Stuart Mitchell

The bosses of the UK’s charity regulators have written to the UK’s largest banks to request “urgent action” to stop charities being given poor service or denied accounts. The letter, from Helen Stephenson (Charity Commission for England and Wales), Maureen Mallon (Office of the Scottish Charity Regulator) and Frances McCandless (Charity Commission for Northern Ireland), says that charities are “on the frontline of the current cost-of-living crisis”, and that the challenges they face are being “heightened by avoidable frustrations” created by banks. The three chief executives say there is “little…

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First opportunity for banks to receive stamp of approval on science-based climate targets

Stuart Mitchell

New science-based target validation now available to help financial players align their lending and investments with the Paris Agreement. 55 institutions already committed. The first opportunity for financial institutions to set science-based targets to align their lending and investment activities with climate science is launched today by the Science Based Targets initiative (SBTi). Banks, investors and insurance companies can now verify whether climate targets for their operations and portfolios align with the Paris Agreement’s goal of keeping global warming to 1.5°C or well-below 2°C . 55 financial institutions including Bank.…

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USAA and Harris Bank are Most Reputable Banks in 2018

Stuart Mitchell

USAA and Harris Bank are the most reputable banks in the United States this year, according to Reputation Institute and American Banker’s 2018 Annual Survey of Bank Reputations. “This year’s results reveal that workplace, governance, leadership and financial performance are most important to banking customers,” said Brad Hecht, Senior Managing Director of Americas at Reputation Institute. “A strong reputation is especially important for a bank as it facilitates customer appeal and loyalty, operating license from policymakers and regulators, and employee attraction and retention. For the first time, governance is the…

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Scotland looks at creating an ethical publicly-owned investment bank

Stuart Mitchell

A Scottish National Investment Bank is one step closer, following the publication of the implementation plan. Developed by Benny Higgins, CEO of Tesco Bank, the plan has recommendations covering the remit, governance, operating model and financing of the new bank. The plan recommends that the bank should: Be publicly-owned and mission-driven, focused on supporting Scotland’s economic priorities and promoting inclusive growth Operate in an ethical and transparent way Cowork to crowd in, not crowd out, private sector investment Be supported by long-term capitalisation of at least £2 billion over the…

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