Showing 1 to 12 of 14 results
Supreme Court Ruling Cuts Car Finance Compensation Costs, Boosts Bank Shares
The Supreme Court's ruling on car finance compensation lowered the estimated cost from £44 billion to £9-£18 billion, causing a surge in bank shares like Lloyds (up 9 percent) and Close Brothers (up 23.5 percent), while the FCA will consult on a new compensation scheme.
Supreme Court Ruling Cuts Car Finance Compensation Costs, Boosts Bank Shares
The Supreme Court's ruling on car finance compensation lowered the estimated cost from £44 billion to £9-£18 billion, causing a surge in bank shares like Lloyds (up 9 percent) and Close Brothers (up 23.5 percent), while the FCA will consult on a new compensation scheme.
Progress
52% Bias Score
£18bn Car Finance Compensation for UK Motorists
The UK's Financial Conduct Authority will compensate millions of motorists up to £18 billion for overcharged car finance due to undisclosed commissions, with payouts starting next year following a Supreme Court ruling.
£18bn Car Finance Compensation for UK Motorists
The UK's Financial Conduct Authority will compensate millions of motorists up to £18 billion for overcharged car finance due to undisclosed commissions, with payouts starting next year following a Supreme Court ruling.
Progress
44% Bias Score
UK Supreme Court Rules on Unfair Car Finance Deals, Shifting Redress to Regulators
The UK Supreme Court ruled that while car finance deals were unfair, redress is the responsibility of regulators, not the judiciary; the Financial Conduct Authority (FCA) will now create a compensation scheme costing potentially £18 billion for loans since 2007.
UK Supreme Court Rules on Unfair Car Finance Deals, Shifting Redress to Regulators
The UK Supreme Court ruled that while car finance deals were unfair, redress is the responsibility of regulators, not the judiciary; the Financial Conduct Authority (FCA) will now create a compensation scheme costing potentially £18 billion for loans since 2007.
Progress
40% Bias Score
UK Supreme Court to Rule on Car Finance Commission Disclosure
The UK Supreme Court rules today on whether car buyers must be informed about dealer commissions on finance deals, potentially impacting banks and millions of motorists with a compensation scheme costing up to £44 billion.
UK Supreme Court to Rule on Car Finance Commission Disclosure
The UK Supreme Court rules today on whether car buyers must be informed about dealer commissions on finance deals, potentially impacting banks and millions of motorists with a compensation scheme costing up to £44 billion.
Progress
44% Bias Score
FCA Proposes \£10 Billion Redress Scheme for Mis-Sold Car Finance
The UK's financial regulator, the FCA, is proposing an industry-wide redress scheme to compensate millions of motorists affected by mis-sold car finance following a Supreme Court ruling that deemed secret commission payments to car dealers unlawful, potentially leading to over \£10 billion in payout...
FCA Proposes \£10 Billion Redress Scheme for Mis-Sold Car Finance
The UK's financial regulator, the FCA, is proposing an industry-wide redress scheme to compensate millions of motorists affected by mis-sold car finance following a Supreme Court ruling that deemed secret commission payments to car dealers unlawful, potentially leading to over \£10 billion in payout...
Progress
44% Bias Score
Lloyds Triples Car Finance Mis-selling Provision to £1.2 Billion
Lloyds Banking Group tripled its provision for a car finance mis-selling scandal to £1.2 billion, impacting its annual profits, while facing a potential Supreme Court ruling in April impacting millions of customers and other lenders.
Lloyds Triples Car Finance Mis-selling Provision to £1.2 Billion
Lloyds Banking Group tripled its provision for a car finance mis-selling scandal to £1.2 billion, impacting its annual profits, while facing a potential Supreme Court ruling in April impacting millions of customers and other lenders.
Progress
40% Bias Score
FCA's Car Finance Redress Scheme Faces Challenges Due to Paperwork Issues
The UK's Financial Conduct Authority (FCA) proposes a redress scheme for car finance mis-selling dating back to 2007, potentially costing £9bn-£18bn, but faces challenges due to missing paperwork and a Supreme Court ruling limiting claims; the FLA calls the scheme 'completely impractical'.
FCA's Car Finance Redress Scheme Faces Challenges Due to Paperwork Issues
The UK's Financial Conduct Authority (FCA) proposes a redress scheme for car finance mis-selling dating back to 2007, potentially costing £9bn-£18bn, but faces challenges due to missing paperwork and a Supreme Court ruling limiting claims; the FLA calls the scheme 'completely impractical'.
Progress
48% Bias Score
FCA to Pay £9-£13.5 Billion in Motor Finance Compensation
The UK's Financial Conduct Authority (FCA) will create a compensation scheme costing £9-£13.5 billion for thousands of motorists who bought cars on finance before 2021 due to firms' non-compliance with disclosure rules on commission payments, with payouts expected to start next year.
FCA to Pay £9-£13.5 Billion in Motor Finance Compensation
The UK's Financial Conduct Authority (FCA) will create a compensation scheme costing £9-£13.5 billion for thousands of motorists who bought cars on finance before 2021 due to firms' non-compliance with disclosure rules on commission payments, with payouts expected to start next year.
Progress
36% Bias Score
UK Supreme Court Upholds Car Finance Commission Disclosure Ruling
The UK Supreme Court upheld a ruling requiring full disclosure of car finance commissions, potentially leading to billions of pounds in compensation for millions of consumers; the FCA will announce its redress scheme soon.
UK Supreme Court Upholds Car Finance Commission Disclosure Ruling
The UK Supreme Court upheld a ruling requiring full disclosure of car finance commissions, potentially leading to billions of pounds in compensation for millions of consumers; the FCA will announce its redress scheme soon.
Progress
40% Bias Score
UK Supreme Court Rejects Mass Redress Scheme for Legacy Car Financing
The UK Supreme Court largely rejected a mass redress scheme for consumers in legacy car financing cases, siding with banks except for one consumer who received compensation due to unfair treatment under the Consumer Credit Act; the ruling may avoid a £44 billion payout for lenders.
UK Supreme Court Rejects Mass Redress Scheme for Legacy Car Financing
The UK Supreme Court largely rejected a mass redress scheme for consumers in legacy car financing cases, siding with banks except for one consumer who received compensation due to unfair treatment under the Consumer Credit Act; the ruling may avoid a £44 billion payout for lenders.
Progress
56% Bias Score
Bank of Ireland Reserves €172m for UK Car Finance Mis-selling
Bank of Ireland set aside €172m (£142m) for UK car finance mis-selling compensation following an FCA inquiry into hidden charges, impacting its 2024 profit (€1.9bn) while its UK division showed a 27% profit increase to £303m.
Bank of Ireland Reserves €172m for UK Car Finance Mis-selling
Bank of Ireland set aside €172m (£142m) for UK car finance mis-selling compensation following an FCA inquiry into hidden charges, impacting its 2024 profit (€1.9bn) while its UK division showed a 27% profit increase to £303m.
Progress
28% Bias Score
Millions Owed in UK Car Finance Scandal
Millions of UK motorists who financed car purchases since April 2007 may be owed thousands in compensation due to an FCA investigation into undisclosed commissions used by car dealerships, potentially costing £30 billion.
Millions Owed in UK Car Finance Scandal
Millions of UK motorists who financed car purchases since April 2007 may be owed thousands in compensation due to an FCA investigation into undisclosed commissions used by car dealerships, potentially costing £30 billion.
Progress
52% Bias Score
Showing 1 to 12 of 14 results