33 h. 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

3 d. 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

4 d. 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

5 d. 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

9 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

9 d. ago Lloyds warns of ‘material’ extra provision needed for car finance payouts

Lloyds has significant exposure to the car finance industry.

Events

1 week 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

1 week ago Drivers warned of 'unnecessary' £630 fees in car finance payout claims

Millions of drivers could be owed hundreds of pounds in compensation

Economics

1 week 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

1 week 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

1 week 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

1 week 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

1 week 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

1 week 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

1 week 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

1 week 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

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