@peter_IFAMAG reads Twitter so you don’t have to.
Now City watchdog tells bank they can reject loans if a customer took a mortgage holiday. The Times reveals FCA failure to act over misleading promotions. Meanwhile, on Twitter, an outpouring of feeling following the death of Greg Kingston.
James Hurley highlights the FCA only gave three fines over six years in the face of ‘LCF-style misleading promotions.’
Exc: No prosecutions and only three fines from FCA across six years for LCF-style misleading financial promotions from authorised firms – despite hundreds of millions of pounds of consumer losses https://t.co/GCcYDWlgD8
— James Hurley (@jameshurley) July 28, 2020
Banks could reject loans if customers took a mortgage holiday over the pandemic, Watchdog says.
This is a worrying development as the FCA's current published guidance specifically says that payment holidays should not affect credit ratings.
Now City watchdog tells banks they CAN reject loans if you took break https://t.co/Ojnz8Tz47B via @ThisIsMoney
— APPG Banking (@APPGbanking) July 27, 2020
UK Fintech funding slows.
Financial industry mourns the death of Greg Kingston today.
Very sad to hear that Curtis Bank stalwart Greg Kingston has passed away. An insightful and hugely friendly gent.
— Justin Cash (@Justin_Cash_1) July 27, 2020
Some raise concerns over Amazon grocery delivery competition.
Currently most UK supermarkets lose money with online delivery. What must they be thinking now? https://t.co/niiUEnJf9Q
— David Sands (@UKBizInvestor) July 28, 2020
Goldman Sachs CEO kicks off his summer with a DJ set at the Hamptons, leaving many scratching their heads.
The CEO of Goldman Sachs did a DJ set in the Hamptons, opening for the Chainsmokers https://t.co/m2TyKuicMp
— Joe Weisenthal (@TheStalwart) July 27, 2020
What are your thoughts on these tweets?
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