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

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

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 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 Lloyds hikes cash set aside for car finance scandal payouts to £2BN

Lloyds on Monday said it would raise its concerns with the Financial Conduct Authority as it ramped-up provisions for potential costs by £800million.

Economics

2 w. 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

3 w. 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

3 w. 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

3 w. 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

3 w. 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

3 w. 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

3 w. 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

3 w. 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

3 w. 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

3 w. ago Millions of car buyers could share £8billion payout after finance scandal

City regulator the Financial Conduct Authority has published details of an industry wide compensation scheme

Economics