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2020-02-26 20:27:03| Guardian Unlimited Business - more business news

Taxpayers will feel short-changed over the failure of a leading challenger bank to deliver improvementsYoud think Banking Competition Remedies (BCR), the body in charge of dishing out 775m of subsidies to challenger banks, would be embarrassed. Its top pick for a handout a year ago was Metro Bank, which was given the mighty sum of 120m to provide stiffer competition to bigger banking beasts and improve the lot of small business customers.To say things havent worked out as intended would be an understatement. Metro has spent the past 12 months challenging the wealth of its shareholders, consuming the energies of financial regulators, and taking ages to defenestrate its controversial founder, Vernon Hill. Continue reading...

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