Close Brothers shares drop as motor finance arm deals with two FCA reviews Banking Shares in merchant banking group Close Brothers fell as much as 6.6 per cent on Wednesday morning as its motor finance business faces compensation costs tied to two market-wide reviews from the Financial Conduct Authority (FCA).
Regulator warns firms over provisions for motor finance claims FCA It said it had "observed firms taking different approaches to account for the potential impact of previous use of DCA on their financial resources."
S&U channels Marcus Aurelius as motor finance lender says it will ‘wrestle on’ Finance The specialist auto and property lender has posted a fall in annual profit and lowered its dividend as the firm grapples with higher costs and regulatory pressures.