Motor finance: The legal battles are only just beginning Legal The legal troubles for banks and lenders may widen says a lawyer, following the success of the landmark Court of Appeal decision last month.
UK banks could limit buybacks as car loan scandal grows Banking Some UK banks could be forced to reduce upcoming investor payouts, analysts have warned, as the Financial Conduct Authority mulls whether to expand a probe into now-banned car loan deals.
Motor finance: City watchdog considers deadline extension Banking The Financial Conduct Authority (FCA) said firms are likely to receive a "high volume" of complaints following the Court of Appeal's judgement last month.
Motor finance: Court blocks Close Brothers pathway to Supreme Court November 12, 2024 After a landmark ruling last month in the motor finance test case, a court has hit Close Brother with yet another blow
FCA could spend £20m on car loan probe after shock court ruling November 7, 2024 The Financial Conduct Authority (FCA) could splash £20m on the first stage of its review into car loan commissions, City AM can reveal, reflecting the scale of a scandal that may see lenders forced to pay billions of pounds in compensation.
Motor finance industry in crisis mode after landmark court ruling November 1, 2024 Motor finance providers are scrambling to avoid a full-blown market meltdown after a landmark London court ruling on "secret" car loan commissions sparked chaos across the sector.
Shares drop at Close Brothers as court sides with consumers in motor finance claims October 25, 2024 In a landmark decision in the motor finance test case, a court has resoundingly sided with consumers against the banks and lenders, including Close Brothers
Motor finance test cases against Close Brothers and Firstrand head to Court of Appeal July 2, 2024 A test case containing three cases relating to motor finance commission will be heard at the Court of Appeal this week.
Aldermore ditches bid for Co-op Bank October 25, 2023 The challenger bank’s bid for Co-op was reportedly derailed by a leadership shake-up at FirstRand, its South African parent company.
Mark Kleinman’s column: WANdisco fiasco, Co-op auction and Chelsea’s misfires August 10, 2023 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his fortnightly City A.M. column. It’s payback time WANdisco? More like WANfiasco. Within weeks of the AIM-listed data software company letting it be known that it was solidifying its ambitions of pursuing a US stock market listing, the [...]