Santander UK delays results following motor finance court case October 29, 2024 Santander UK has delayed the publication of a detailed set of results covering the third quarter as it waits to assess the impact of a landmark court ruling on motor finance commissions. Full results for the Spanish bank’s UK arm were meant to be published this morning, but the lender said on Monday that it [...]
Financial exclusion is a barrier to sustainable growth October 28, 2024 Britain has a two-track financial system, with world-beating services for some and a poverty premium for others, says Charles Randell With a week to go until the Budget, what measures does the Financial Inclusion Commission – a cross-party group of financial experts from business, politics and the charity sector – advise the Chancellor to take [...]
Lloyds shares slump as analysts warn of £3.9bn motor finance bill October 28, 2024 Shares in Lloyds Banking Group and Close Brothers fell further on Monday after a landmark London court ruling that could expose motor finance providers to billions in extra compensation.
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
UK banking complaints nearly double amid credit card and motor finance woes October 24, 2024 Official UK banking complaints almost doubled in the first half of 2024 as consumers hit out against firms' handling of credit cards and motor finance.
Lloyds Bank: Lender beats profit estimates as consumers prove resilient October 23, 2024 Lloyds Banking Group has beaten profit estimates as the lender set aside less than expected for souring loans and saw improved consumer confidence.
Sabre Insurance: Motor insurance claims inflation continues to hit growth October 22, 2024 Motor insurer Sabre Insurance said it expects annual gross written premium growth to moderate slightly as claims inflation remains elevated.
FCA to review UK premium finance market amid price hike concerns October 16, 2024 The UK's financial regulator is to review Britain's premium finance market amid worries that consumers who borrow to pay for insurance may not be getting fair or competitive deals.
S&U: City regulator lifts collection restrictions on motor finance lender October 14, 2024 Specialist lender S&U said the City regulator agreed to remove collection process restrictions on its motor finance business after blaming the measures for a slide in profit this year.
S&U fires barbs at regulator after motor finance probe dents profit October 8, 2024 Specialist lender S&U fired another salvo at the Financial Conduct Authority (FCA) today as it blamed regulatory pressure for the “uninspiring performance” of its motor finance business in the first six months of the year. Pretax profit across the London-listed firm slumped by nearly half to £12.8m for the six months to 31 July, down [...]