Lloyds shares slump amid questions over motor finance legal battle April 2, 2026 Lloyds shares slumped this morning even as the banking giant declared it would not have to top up its provisions following the confirmation of a motor finance redress scheme. The group – which owns the UK’s largest car finance lender Black Horse – said it had “undertaken an assessment of the implications and impact” of [...]
‘Ambulance chasers’ in the crosshairs as claims industry faces scrutiny April 2, 2026 As London’s legal scene gets more litigious, creeping closer to the American ‘sue everything’ culture, so-called ambulance chasing claims firms are starting to appear in the headlines – for the wrong reasons. The Financial Conduct Authority (FCA)’s chief executive, Nikhil Rathi, has been critical of claims management companies (CMC) or similarly specialised law firms throughout [...]
KBRA Comments on FCA Finalising Motor Finance Compensation Scheme; No Change to UK Auto ABS Outlook April 1, 2026 The Financial Conduct Authority (FCA) has finalised its compensation scheme for discretionary commission arrangements in UK motor finance, providing greater clarity on the potential scale of redress. In its August 2025 commentary on the implications of motor finance litigation for UK auto ABS, KBRA highlighted the FCA’s earlier estimate of total sector costs ranging from [...]
FTSE 100 Live: Stocks boom as Trump signals end to Iran war; Starmer eyes closer ties to EU April 1, 2026 Good morning and welcome back to the City AM liveblog. President Trump has made his clearest indication yet that the war in Iran might soon come to a close, saying the US will “leave” Iran in “two to three weeks” when they are certain the regime will not be able to build a nuclear weapon [...]
Motor finance compensation scheme set to fuel even more legal action March 31, 2026 The City watchdog has revealed its long-awaited motor finance redress scheme, but despite the bill for lenders coming in lower than predicted the scandal is not going away any time soon, as further legal action is expected. After a 2024 legal case ruled that car sales firms couldn’t lawfully receive commissions from finance firms unless they had [...]
Motor finance compensation to ‘to fire starting gun’ on banking M&A March 31, 2026 The financial watchdog’s long-awaited motor finance redress scheme is predicted to “fire the starting gun” on a wave of deals throughout the banking sector. The Financial Conduct Authority (FCA) launched the final rules for its redress programme on Monday, with the bill for lenders expected to come in at just north of £9bn, down from [...]
Lloyds and Close Brothers shares rally as banks ‘assess’ impact of motor finance redress March 31, 2026 Shares in UK motor finance lenders had a volatile opening this morning as markets digested the final rules of the financial watchdog’s industry-wide redress scheme. Lloyds Banking Group – the owner of the nation’s largest motor finance lender Black Horse – crept up over one per cent in early trading to tip over the 92p [...]
FTSE 100 Live: Stocks inch up; Fuel shortage fears hit airlines; Unilever nears food deal March 31, 2026 Good morning and welcome back to the City AM liveblog. Oil prices are on track for its biggest monthly gain on record for March following the outbreak of war in Iran. It comes as the war in Iran continues to cause ripples through the market, with Brent crude – the international benchmark for oil prices [...]
FCA slashes banks’ motor finance payouts as compensation scheme finalised March 30, 2026 City banks are set to face a more than £9bn motor finance bill after the UK’s financial watchdog laid out plans for its long-awaited motor finance redress scheme in a major U-turn after months of backlash. The Financial Conduct Authority (FCA) revealed the details of its industry-wide redress scheme for the car mis-selling saga on [...]
FTSE 100 Live: Dollar dips amid Trump oil threats; motor finance decision expected March 30, 2026 Good morning and welcome back to the City AM liveblog. In a fresh escalation of the conflict in the Middle East, Donald Trump has said that he wants to “take the oil in Iran”, with the US dollar taking a hit this morning. In an interview with the Financial Times, the US President said that [...]