British lenders might face a staggering £30 billion compensation bill due to the mounting car finance mis-selling scandal, according to leading credit ratings agency Moody’s. The estimate represents the highest
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In a significant development at the annual Mansion House dinner, Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey have jointly emphasised the urgent need to rebuild Britain’s economic
In a significant move to tighten communication controls, NatWest has implemented a comprehensive ban on WhatsApp usage for work-related communications. The British banking giant has also blocked several other messaging
Britain’s Financial Conduct Authority (FCA) has imposed a £16.7 million fine on Metro Bank for significant failures in its anti-money laundering systems, which left £51 billion worth of transactions unmonitored
French and Dutch authorities have conducted raids on Netflix offices as part of a widening investigation into alleged tax fraud and labour law violations. The surprise searches, carried out on
A groundbreaking court ruling involving a £1,651 commission on a Suzuki Swift could trigger a devastating £13 billion compensation crisis for the car finance industry. Marcus Johnson, a 34-year-old factory
A controversial scheme enabling company directors to shed millions in debt obligations continues to operate despite government intervention to shut it down. The Atherton scheme, marketed as a “legal alternative
Major car finance companies have suspended lending operations following a groundbreaking Appeal Court ruling, throwing Britain’s automotive sector into disarray. The judgement, which found lenders liable for undisclosed commissions, has
Leading financial institutions have engaged in urgent discussions with the UK Treasury amid growing concerns about potential upheaval in the consumer credit sector following a groundbreaking court ruling on car
In a controversial decision, the Payment Systems Regulator (PSR) plans to significantly lower the maximum reimbursement for victims of authorised push payment (APP) scams from £415,000 to £85,000. This change
The auditing giant PwC China has reportedly informed its clients that it anticipates a six-month ban from Chinese authorities and a substantial fine due to its role in auditing the
