56 h. ago Santander demands Government action over FCA’s proposed motor finance compensation scheme

SANTANDER UK has scrapped its third-quarter results — demanding Government action over the FCA’s proposed motor finance compensation scheme. Boss Mike Regnier warned the plans could hit the car finance market and wider automotive sector, risking significant job losses. He called for changes to address “concern in the industry and market to the proposed Financial...

Politics

65 h. ago Why are banks criticising the car finance redress scheme and what happens next?

The PA news agency looks at what banks have said about the proposed scheme.

Economics

66 h. ago Santander scraps results and calls for Government action on motor finance

The Spanish-owned group raised fears that compensation scheme plans could impact the car finance market and wider motor sector.

Politics

2 d. ago Cost of car finance scandal could cause 'significant' hit to UK economy, Santander boss warns

The group's chief executive Mike Regnier said current proposals 'could significantly impact jobs, growth and the broader UK economy'.

Events

2 d. ago Santander halts results and calls for Government action on motor finance

The Spanish-owned group raised fears that compensation scheme plans could impact the car finance market and wider motor sector.

Politics

7 d. ago AD FEATURE: Drivers may be able to reclaim money from past car finance agreements

Complex Law offers eligibility checks for anyone who thinks they may be entitled to compensation

Economics

8 d. ago Lloyds shares flat despite 36% profit slide on car finance scandal in ‘quarter to forget’

“This has turned out to be something of a quarter to forget for Lloyds” – Richard Hunter, Interactive Investor

Economics

8 d. ago Lloyds mulls legal action over £11bn car finance scandal payout proposals

Lloyds saw earnings plunge 36 per cent over the last quarter after the lender ramped-up cash set aside for payouts related to the car finance commissions scandal.

Economics

1 week ago Barclays earnings dip after raising car finance compensation bill to £325m

The banking group made a pre-tax profit of £2.1 billion for the third quarter, between July and September, down 7% on the prior year.

Economics

1 week ago Barclays profits fall as bank sets aside further £235mn for car finance payouts

London-listed bank announces £500mn share buyback and slightly increases 2025 guidance

Economics

1 week ago Barclays suffers £110mn hit from Tricolor collapse as bank’s profits fall

London-listed lender announces £500mn share buyback even as it sets aside further £235mn for UK car finance payouts

Economics

1 week ago More banks hit out at £11billion car finance compensation plan

Both Bank of Ireland and Secure Trust Bank were also forced to significantly ramp up provisions set aside for compensation.

Economics

2 w. ago UK banks in ‘eye of the storm’ amid US credit jitters and car finance payouts

Shares in British banking giants were falling on Friday, weighing on the UK’s FTSE 100 index.

Economics

2 w. ago Man Utd's £2bn stadium plans get 'huge green light' as expected completion date set

As Manchester United fans continue to ponder what their new stadium may look like, Sir Jim Ratcliffe and co have been boosted by a piece of positive news

Economics

2 w. ago New Martin Lewis update on £700 car loan compensation due next year

Around 14 million people have been mis-sold car finance and due a payout from a mass redress scheme.

Economics

2 w. 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

2 w. 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

2 w. ago Lloyds blasts FCA over car loans bill: Bank launches fightback after admitting scandal has left it facing £2bn hit

Lloyds, which is on the hook for almost £2bn over the motor finance scandal, accused the FCA of botching the design of the compensation scheme.

Economics

2 w. 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

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

The financial services company is pushing for a fairer redress system

Economics