FSA is no authority for bank regulation - its a waste of resources... Lloyds Banking Group is the latest shady bank to receive a slap on the wrist from the FCA. In fact, the $45 Million fine meted out for gross financial mis-selling is the biggest to date. But it won’t change things one little bit. Why do I say this?

see how fastacash are using the power of social networks to transfer ex-pat money! Foreign money transfer is big business here in the UK, with many Commonwealth citizens working over here wanting to provide for families back home. Banks and services such as Western Union can be expensive, intimidating and inconvenient, so a Singapore based company has launched a new service using social channels like Facebook and Twitter.

how not to deal with customers by HSBC!

Spotted a very surprising Tweet a few days ago from prominent banking futurist and founder of Moven.com, Brett King.

He’s been caught up in a gross administrative blunder by HSBC in New York when they closed his account as part of a small business account rationalisation process.

Apparently, HSBC in the US are shifting their retail strategy away from smaller businesses and removing banking facilities from well maintained, perfectly viable customers. A bit like RBS in the UK, but without the criminal intent.

While that’s certainly a regrettable action by anyone’s standards, it wasn’t what Mr King took issue with. It was the failure to engage with the customer properly, turning a mistake into little short of a PR catastrophe.