Bruce Bentley

HIGH street banks are going 'to war' on cryptocurrencies such as Bitcoin after a spike in fraud, reports the Times One bank will use technology to ban several million customers from buying ANY digital currencies, it adds. Ashley Hart, head of fraud at TSB, said: "Platforms and exchanges are rife with fraudsters, and many do not have proper controls to prevent victims losing large sums of monty. "Crypto is a hotbed for fraud and urgently needs greater regulation and consumer protection. "Anyone approached to invest in crypto should be extremely wary." Despite the warning, Dubaicoin saw its value shoot up 1,000 per cent in just 24 hours despite the price of other cryptocurrencies continuing to fall. The city's government has denied any official link, with the authority even claiming it is part of an "elaborate scam". The dramatic price rise came as the value of Bitcoin and other cryptocurrencies such as Ethereum continue to struggle. Mean...

Bruce Van Saun, Chairman and CEO of Citizens Financial Group, hit the nail on the head when he said, "We are working on a transition period." He was referring to the regional bank's drop in mortgage fees after a strong year last year, but could have talked broadly about the industry's first quarter. Banking earnings have strengthened, but deposits continue to pile up, mortgage lending is cooling off somewhat after a scorching 2020, and M&A activity accelerates banks' pursuit of growth as the economy rebounds from the pandemic recession begins. A surge in business loan demand would solve some problems and ease pressure on management, particularly new CEOs like Jane Fraser of Citigroup and Kevin Blair of Synovus Financial. Many executives have expressed confidence that credit growth is around the corner, but others - notably Bill Demchak, chairman and CEO of PNC Financial Services Group - say when the recovery will be much more difficult to pinpoint. One bright...