The mounting scandal over mis-sold car loans has compelled Santander UK to raise the amount it has allocated for potential compensation to motorists, now exceeding £460 million. Initially, the bank
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Victims of car finance mis selling could be set to miss out on an average of £500 each due to the compensation calculations proposed by the Financial Conduct Authority. Slater
Lloyds Bank has stated it will contest the Financial Conduct Authority’s (FCA) expansive plans for an £11bn car finance compensation scheme, after the mounting cost of the scandal significantly hit
The US car loan market has shifted dramatically from being one of the most secure avenues of consumer credit to one of the most precarious. Recent data reveal a staggering
The Financial Conduct Authority (FCA) is facing sharp scrutiny from the House of Lords over its proposed £11 billion compensation scheme for mis-sold motor finance. Senior FCA executives, including chief
The ongoing fallout from the UK motor finance scandal is placing severe financial strain on Lloyds Banking Group and Close Brothers, with both lenders announcing that compensation costs will materially
Britain’s largest banks have seen their valuations soar by over £5bn after the Financial Conduct Authority (FCA) unveiled a smaller than anticipated car finance compensation pot. Shares in Close Brothers
BMW’s UK motor finance arm has dramatically increased the amount earmarked for potential compensation payouts as the ripples from the car finance mis-selling scandal continue to reverberate through the financial
Stellantis, the automotive group behind brands such as Vauxhall and Peugeot, is preparing for a staggering £37 million financial blow amid the ongoing mis selling scandal affecting the motor loans
The UK financial watchdog is scrutinising 30 million car finance agreements, as part of a sweeping investigation into potentially mis-sold loans that may trigger a multibillion-pound compensation scheme. Nikhil Rathi,
The chasm between projected car finance compensation costs and current lender provisioning has drawn sharp analysis across the sector. The Financial Conduct Authority anticipates lenders may have to pay between
The UK’s car finance sector has been spared a financial earthquake after a Supreme Court judgment reduced the potential compensation bill facing lenders and dealers. The decision on a long-running
The Financial Conduct Authority (FCA) has indicated that compensation awarded to consumers in the ongoing car finance scandal is expected to be much less than the sums paid during the
British motorists are poised to receive automatic compensation payments following the Financial Conduct Authority’s (FCA) announcement of a comprehensive redress scheme addressing the motor finance mis-selling scandal. The regulatory body
The Treasury has announced a review into the Financial Ombudsman Service (FOS), following concerns that the body has overstepped its powers as a complaints adjudicator into the realm of a
The British government is exploring a novel approach to stimulate electric vehicle (EV) sales through subsidised consumer loans. Ministers have initiated discussions with automotive finance providers to expand access to
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