Vanquis Bank reports surprise balance sheet hit after investigation July 16, 2024 As a result of these write-offs, the lender said it would no longer hit its return on tangible equity and profit targets for the year.
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.
Shawbrook to acquire high-end auto lender in bid to expand motor finance offering June 17, 2024 Challenger bank Shawbrook has struck a deal to acquire motor finance lender JBR Auto Holdings as it looks to expand its car loan offering.
Close Brothers shares drop as motor finance arm deals with two FCA reviews May 22, 2024 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 April 12, 2024 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’ April 9, 2024 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.