Starling’s roadmap, Atom’s loans and Barclays’ fine in Banking this week
- Barclays is preparing to face US prosecutors over a possible multi-billion-pound fine for its role in the sub-prime mortgage collapse. The bank is expected to argue that it is not liable for alleged wrongdoing in the US.
- Co-operative Bank is close to negotiating a £700m rescue deal with US hedge funds alongside ongoing talks concerning the separation of the pension scheme it shares with the Co-operative Group, according to Sky News. The board of the Co-op Bank said it has decided to discontinue the formal sale process under the UK takeover code, and the Bank is no longer in ‘offer period’ for purposes of the code
- Starling Bank has announced a roadmap for the coming year and opened Starling Community, a web forum for the bank to share plans and receive feedback from users. Plans include support for Apple Pay in July 2017, support for Android Pay, joint accounts, virtual cards, additional mobile-controlled card security options and the roll out of ‘Goals’, which allows users to save for specific targets
- Atom Bank is set to expand its small business lending after securing a £30m Tier 2 capital facility from the state-backed British Business Bank.
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