Two of the UK’s biggest banks admit that some customers have been denied their legal right to cancel recurring payments, reports Radio 4′s Money Box.

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Banks ‘wrong’ over payment policy

The UK’s biggest banks question the value of ringfencing their retail operations, but say it is “not a make or break issue”.

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Bank chiefs question ringfencing

State and federal officials negotiating a settlement with the nation’s biggest banks over shoddy foreclosure practices are hung up on how they should deal with a Reston-based company that has acted as a proxy for financial firms throughout the country for more than a decade. Some officials refer to the dilemma as the “MERS morass,” referring to Mortgage Electronic Registration Systems , whose vast but controversial registry contains roughly 65 million mortgages. The pending multibillion-dollar settlement with banks centers on “robosigned” documents and court filings and other problems related to mortgage servicing that caused a national uproar last fall. Much of that flawed paperwork flowed through MERS. Read full article > >

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‘MERS morass’ is hanging up negotiations on foreclosure settlement

The UK’s biggest banks must be forced to ring-fence their retail operations from investment banking, Chancellor George Osborne is to say.

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UK retail banks to be ring-fenced

The nation’s biggest banks and mortgage lenders have amassed a glut of foreclosed homes that threatens to deepen the housing slump.

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As Lenders Hold Homes in Foreclosure, Sales Are Hurt

Sources said Wednesday that U.S. officials are investigating whether some of the world’s biggest banks worked together to understate their own borrowing costs before and during the financial crisis-affecting trillions of dollars in loans and…

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Sources: U.S. Investigating Banks’ Libor Dealings

The head of the commission reviewing whether the UK’s biggest banks should be broken up says wide-ranging reform is needed.

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Bank inquiry head urges reforms

The head of the commission reviewing whether the UK’s biggest banks should be broken up is expected to say later wide-ranging reform of the banking sector is needed.

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Banks break-up ‘being considered’

One of Ireland’s biggest banks has issued an apology to customers after a systems failure meant that, for a time, they were unable to access their cash accounts.

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Bank of Ireland systems failure

Britain’s biggest banks are in talks about collectively reducing the total amount of money they will pay staff in the upcoming bonus season.

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Banks in talks over bonuses cut