15 h. ago Close Brothers issues major update on expected car finance compensation bill

It comes a day after Lloyds Banking Group announced they would be challenging the proposed scheme

Economics

41 h. ago Car finance compensation explained as millions of Brits could be owed money

Millions of drivers could be due an average of 700 each after the Financial Conduct Authority said it will set up a compensation scheme for those who may have been mis-sold car finance

Economics

42 h. ago Lloyds Bank to challenge car finance compensation scheme after £2bn estimation

The financial services company is pushing for a fairer redress system

Economics

43 h. ago Lloyds warns car finance compensation could cost it nearly £2bn due to historic cases

Most of the car finance deals covered by the FCA’s scheme involve DCAs

Economics

45 h. ago Lloyds warns car finance compensation scheme could cost it nearly £2bn

The banking group said it was expecting there to be a higher number of historical motor finance agreements that are eligible for redress.

Economics

69 h. ago Car finance compensation explained as millions of drivers owed £700

Consumer champion Martyn James explains everything you need to know about the car finance scandal, as millions of drivers are owed compensation

Economics

5 d. ago Lenders warn of bigger hit to finances from £11bn car loan compensation plan

Lloyds Banking Group and Close Brothers both said they were expecting to have to put aside more money to cover costs related to the mis-selling saga.

Events

5 d. ago Lloyds admits £1.2bn set aside for car finance compensation may not be enough

Lloyds Banking Group has warned the £1.2billion it has set aside for potential compensation payouts related the motor finance commissions scandal may not be enough.

Economics

6 d. ago Lenders betray public trust: Car finance scandal victims deserve their compensation, says ALEX BRUMMER

The gravitational pull of Generation Y towards fintech sites such as Revolut, Wise and Monzo, is often attributed to their tech-savvy skills.

Events

6 d. ago Martin Lewis' advice on what you need to do to claim £700 car finance compensation

Claiming compensation for being mis sold car finance is 'easy' and many will receive it 'automatically', Mr Lewis says

Economics

6 d. ago Martin Lewis tells Brits how to get up to £700 car finance compensation

FCA announced a redress scheme for car finance customers who were mis-sold their loan and Martin Lewis has explained how to claim the compensation

Economics

6 d. ago Car finance compensation date and key to getting £700 payout quickly as 'millions owed'

The Financial Conduct Authority has announced that 14 million customers could be due an average payout of £700 for mis-sold car finance agreements - here's everything you need to know

Economics

6 d. ago Find out if you're eligible for car finance compensation after Martin Lewis reacts to judgement

The FCA estimates more than four in 10 car finance agreements over a 17-year period were mis-sold.

Events

6 d. ago Martin Lewis explains car finance compensation as millions could get £700 payout

Martin Lewis has explained who is affected by the UK’s car finance scandal and how people can claim a payout.

Economics

6 d. ago UK car finance scandal: How Scottish drivers can claim £700 compensation pay out for unfair car loans

Up to 14 million customers could be in line for a compensation pay out.

Economics

6 d. ago Martin Lewis urges people to do one thing to ensure £700 car finance compensation next year

Around 14 million people have been mis-sold car finance and due compensation.

Economics

7 d. ago Car finance scandal: What happened and are you eligible for £700 compensation payout?

Millions are expected to receive an average payout of £700 from the redress scheme revealed by the Financial Conduct Authority

Economics

7 d. ago Up to 14m car loan scandal victims in line for average £700 payout, City regulator announces

City regulator unveils compensation scheme for motorists who bought cars via discretionary commission deals from 2007 to 2024Victims of the UK’s car finance scandal are likely to receive compensation payouts averaging £700 resulting from 14m unfair loans, the City regulator said on Tuesday.The payouts would be less than previously expected, but the Financial Conduct Authority (FCA) said lenders could be landed with an £8.2bn compensation bill, which could go as high as £9.7bn. Continue reading...

Economics

7 d. ago Millions of motorists to be paid compensation over car finance scandal

Compensation for unfair motor finance deals will be paid out at around £700 each, the Financial Conduct Authority has said

Economics

7 d. ago Car finance compensation figure finally revealed as millions of drivers set for payout

Drivers who took out personal contract purchase (PCP) or hire purchase agreements before between April 6 2007 and November 1 2024 where commotion was payable by the lender to the broker will be paid

Economics