Motor finance drags FOS complaints to highest since PPI scandal July 2, 2025 The motor finance row has dragged complaints to the Financial Ombudsman Service (FOS) to the highest level since the PPI scandal. Consumers lodged 305,726 complaints with the FOS in the year ending March 31 2025, which edged towards highs of 388,392 in year ending March 2019. Complaints regarding motor finance led the spike at 73,328. [...]
Secure Trust Bank: Jobs at risk as lender exits motor finance July 2, 2025 Specialist lender Secure Trust Bank has announced a “strategic pivot” away from its motor finance division in a bid to boost returns. The group said it will pause new lending within its vehicle finance division and “run off” its existing book, meaning it will manage its current portfolio until it naturally winds down. The bank [...]
Barclays seeks to appeal Ombudsman motor finance ruling June 30, 2025 After losing a court battle in December to challenge a decision by the Ombudsman regarding motor finance, Barclays is back in court this week to appeal
City minister opens door to weakening banks ombudsman June 26, 2025 City minister Emma Reynolds has suggested the government could remove powers from the banks ombudsman as part of efforts to ease regulatory burdens faces by financial services. Reynolds told an audience of bankers and investors that the end of a review on the Financial Ombudsman Service (FOS), which acts to settle complaints made by consumers [...]
Crypto exchange to tokenise motor finance claims June 25, 2025 Tokenisation platform Bitfinex Securities has revealed a direct listing of a £100m tokenised equity issuance to provide litigation funding for claims against the motor finance industry
Exclusive: Tandem to name ex-Vanquis chief as new boss June 23, 2025 Digital lender Tandem will this week name the former boss of specialist lender Vanquis and Sainsbury’s retail banking arm as its new chief executive, City AM can reveal. The fintech challenger is set to appoint Neil Chandler, who will replace outgoing chief Alex Mollart. Chandler has most recently served at the helm of digital Banking-as-a-Service [...]
Challenger banks scout exit routes as giants circle Metro and TSB June 19, 2025 Analysts are pencilling in a fresh wave of banking deals with challenger banks set for a market departure. Moody’s analysts have said challenger banks will “seek exit after weak performance” as industry juggernauts set their sights on ramping up their market share. Takeover talk has gripped the City after reports Shawbrook’s private equity owners were [...]
Motor finance woes could make Close Brothers the next takeover target June 19, 2025 Close Brothers has fought tooth and nail in the motor finance battle but analysts have warned regulatory pressures may make the lender vulnerable to a takeover as banking juggernauts look to snap up the competition. The bank has had a bruising 12 months with its stock sinking to lows of 185p in November. Shares have [...]
Natwest rules out TSB takeover June 19, 2025 Natwest has ruled out a takeover of UK high street bank TSB. The FTSE 100 juggernaut was viewed as the “most likely acquirer” by analysts, with the firm hotly anticipated to begin a deal spree after it re-entered private ownership last month. TSB’s Spanish owners, Banco Sabadell, confirmed earlier this week that it had received [...]
Santander interested in TSB takeover June 18, 2025 Santander has approached its Spanish banking peer, Banco Sabadell, regarding a takeover of its UK high street bank, TSB. Britain’s fifth-largest lender is reported to have expressed interest in a deal for TSB, which follows owners Sabadell confirming earlier this week it had been approached regarding acquisitions. A formal offer is yet to be tabled, Sky News [...]