S&U: Motor finance redress scheme must show a changed FCA Banking The chair of specialist lender S&U has said the motor finance redress scheme offers the UK’s financial watchdog the prime opportunity to turn its ‘regulate for growth’ rhetoric into action. Anthony Coombs hailed the “common sense” car finance ruling from the Supreme Court as attention turns to the response by the Financial Conduct Authority (FCA). But [...]
S&U says Budget and motor finance scandal weighing on performance Banking S&U said the Budget and a scandal over motor finance commissions have dragged on the specialist lender’s financial performance. Anthony Coombs, a former Conservative MP who has been S&U’s chair for the last 16 years, argued Labour’s first Budget had “curtailed the sector’s growth ambitions and cast doubt over the new government’s plans to ‘Get [...]
‘FCA is not fit for purpose’: Motor finance lender bosses lash out Motor finance lender executives criticised the FCA performance of this sector, telling members of the Lords that the regulator is "not fit for purpose"