4 h. 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

9 h. 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

10 h. 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

10 h. ago Millions will get £700 payouts from car finance scandal, as FCA reveals compensation details

The financial watchdog has revealed details of its car finance compensation scheme that could see £8.2billion paid back to motorists.

Economics

10 h. ago Compensation payouts due on 14m unfair car loans, watchdog says

The Financial Conduct Authority estimated its redress scheme could cost lenders £8.2 billion in compensation.

Politics

34 h. 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

35 h. ago 29 million smartphone users in the UK could be due compensation

Apple and Samsung smartphone users in the UK could receive part of £480m payout

Politics

46 h. 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

6 d. ago Son of Post Office manager who 'drank herself to death' after being wrongly convicted in Horizon scandal wins inheritance battle against uncle over £578K compensation payout

Matthew O'Connell, 38, won his bitter inheritance war against his uncle, Mark O'Connell, 61, over his late mother, Dawn O'Connell's estate.

Economics

1 week 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

1 week 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

1 week 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

2 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

3 w. ago UK watchdog issues new car finance update on possible £1,100 compensation payout due next year

The FCA has launched a £1 million car finance campaign to warn people of unnecessary fees.

Economics

3 w. ago Starmer says he has confidence in Peter Mandelson despite resurfaced ties to Jeffrey Epstein – UK politics live

PM was grilled by Kemi Badenoch on suitability of Mandelson for job as US ambassador Helena Horton is a Guardian environment reporter.Emma Reynolds, the new environment secretary, had a difficult job this morning: meeting a group of farmers after Labour caused fury in the rural community by introducing a new inheritance tax.The Treasury reserve, designed to be used for “genuinely unforeseen, unaffordable and unavoidable pressures” has recently been used to fund higher public sector pay and compensation payouts.In a letter to ministers, the chancellor said Treasury would only consider providing reserve funds to departments that have already maximised their savings Continue reading...

Politics

4 w. ago Up to 14mn car loans likely to meet compensation criteria, FCA says

Regulator boss tells MPs it has had a ‘range of co-operation’ from lenders implicated in levying unfair charges

Politics