Bloomberg Royal Bank of Scotland Group Plc (RBS) and Banco Santander SA were ordered to appoint an independent auditor for their claim processes after issuing inaccurate information, or failing to send reminders altogether, about the insurance policies that turned into the costliest scandal in UK banking. The banks had previously been ordered to send yearly reminders, including how much customers …

Bloomberg A Zurich-based fintech firm whose investors include Josef Ackermann has raised additional money to value the company at more than $1 billion as it prepares to expand outside its main market of Germany. Numbrs Personal Finance raised $40mn to bring the total capital invested to almost $200mn, CEO Martin Saidler said. Numbrs offers an app that enables users to …

Bloomberg National Australia Bank Ltd. (NAB) has been sued by the securities regulator for allegedly accepting home loan applications from unlicensed ‘introducers.’ Under its so-called Introducer Program, the bank’s staff accepted information and documents in support of 297 loan applications from 25 people who weren’t licensed to engage in credit activity, Australian Securities and Investments Commission said in a statement. …