7 h. ago The outrageous reason why millions of victims of the car finance scandal may be unable to claim payouts

Millions of car loan customers unwittingly paid commission to car dealership salesmen through higher interest borrowing charges.

Economics

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

20 h. ago Close Brothers nearly doubles expected bill for car loan redress to £300m

The banking group told investors it was adding around £135 million to its existing £165 million provision.

Economics

42 h. ago Lloyds challenges car loan compensation bill as it warns of £2bn hit

The high street banking giant raised concerns about the Financial Conduct Authority’s calculations for how much consumers lost out.

Events

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

6 d. ago Banking shares rise after car loan scandal firms are handed a lower

FTSE 250 lender Close Brothers closed up 5.4% while Lloyds Banking Group gained 3.7% and Barclays rose 1.1%.

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 FTSE 100 Live 08 October: Lloyds rallies on car loan update, index and gold at record

Lloyds Banking Group shares today rose during a record-breaking session for the FTSE 100 index.

Politics

6 d. ago Shares in UK lenders rise after watchdog softens car loan compensation costs

Lloyds Banking Group, Close Brothers Group, and Barclays shares were all moving higher on Wednesday morning.

Politics

6 d. ago Martin Lewis says people can hope to get £700 in their bank accounts if they do this one thing

The Financial Conduct Authority (FCA) announced 14 million car finance deals included a discretionary commission arrangement (DCA) in the loan contract, which people were unaware of, and may entitle you to compensation

Economics

6 d. ago FCA announces 14 million people due car loan compensation payout

Redress payments of around £700 could be issued from early next year.

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

8 d. ago Jefferies earned undisclosed fees on First Brands ‘side letter’ financing

Lenders to bankrupt car parts group believe arrangement may have breached loan covenant

Economics

9 d. ago FCA’s multibillion car loan redress estimate is too high, say lenders

Watchdog believes motorists mis-sold auto finance could get payouts totalling up to £18bn

Politics

1 week ago ITV Big Brother romance heats up as housemate reveals 'they've fallen in love'

Big Brother's Elsa and Marcus appear to be growing close as the spend time in the famous house and their budding romance hasn't gone unnoticed by their fellow housemates

Society

2 w. ago Huge £1.5billion lifeline for firms hit by crisis at Jaguar Land Rover in bid to save thousands of jobs

Business and Trade Secretary Peter Kyle announced a loan guarantee scheme to keep afloat small firms that supply the car maker and employ 120,000 people.

Economics

2 w. ago UK government will underwrite £1.5bn loan guarantee to Jaguar Land Rover after cyber

Britain’s largest automotive employer plans to restart engine manufacturing in early October, report saysThe government has said it will underwrite a £1.5bn loan guarantee to Jaguar Land Rover (JLR) as the car maker battles the consequences of a recent cyber-attack.JLR had to suspend production at its UK factories for several weeks after being targeted by hackers with the shutdown expected to last until at least 1 October. Continue reading...

Politics

2 w. ago Jaguar Land Rover cyber attack: Reeves issues £1.5bn loan guarantee to rescue British car maker

Ministers have stepped in to provide an emergency bailout to Jaguar Land Rover after the motor manufacturer was left reeling by a massive cyber attack.

Events

3 w. ago Why Amazon Fresh failed: As all 19 remaining UK stores close, experts blame 'dystopian' concept that stoked fears of Big Brother surveillance

It was supposed to trigger a revolution in how we shop on the high street. But Amazon's 'dystopian' Fresh concept may instead be remembered as a failed experiment in mass surveillance.

Events

3 w. ago BMW: car finance compensation for drivers as manufacturer sets aside £200m for loan scandal payout claims

Millions of motorists could soon pocket refunds 💷

Economics