top of page
FCA defer May update to 6 weeks after Supreme Court judgement is handed down.
The FCA are no longer planning a further announcement in May. Instead, the FCA will confirm within 6 weeks of the Supreme Court's...
Claim-Smart Contributor
Mar 11
1
Bank of Ireland sets aside £142m provision.
Bank of Ireland has set aside €172m (£142m) to cover the likely cost of compensation for car finance mis-selling in the UK. The bank...
Claim-Smart Contributor
Feb 24
1
Lloyds puts aside a further £700m for compensation over car finance scandal.
Lloyd’s Bank has made an additional £700 million provision for potential redress claims relating to its motor finance business. Together...
Claim-Smart Contributor
Feb 20
0
UK Supreme Court rejects Treasury's intervention.
The UK Supreme Court has dismissed Chancellor Rachel Reeves’ attempt to intervene in the ongoing motor finance mis-selling case.
Claim-Smart Contributor
Feb 18
0
Close Brothers to set aside £165m to deal with ongoing car finance investigation.
Close Brothers Group has set out £165 million for the first half of 2025 for potential payouts related to motor finance commission.
Claim-Smart Contributor
Feb 12
0
Barclays loses legal challenge to overturn FOS motor finance ruling.
The High Court found in favour of the Financial Ombudsman Service (FOS) in a review of its decision to uphold a complaint, relating to a...
Claim-Smart Contributor
Dec 17, 2024
12
0
Santander UK sets aside £295 million to cover possible motor finance claims.
The UK arm of Spain's Banco Santander has set aside £295 million to cover possible costs related to the industry wide probe into motor...
Claim-Smart Contributor
Nov 20, 2024
5
0
BMW sets aside £70m provision.
BMW Financial Services (GB) Ltd, the British lending arm of BMW, has earmarked £70.3 million in its 2023 accounts to cover potential...
Claim-Smart Contributor
Nov 13, 2024
0
Close Brothers and FirstRand Bank lose Court of Appeal cases against three defendants.
On 25th October 2024, the Court of Appeal hands down judgement in three linked appeals : Johnson vs FirstRand Bank Ltd (Trading as...
Claim-Smart Contributor
Oct 25, 2024
6
0
FCA confirms extension of complaint handling pause for motor finance DCAs
On 24 September 2024, the Financial Conduct Authority ( FCA ) published a Policy Statement, PS24/11 , confirming that it is extending...
Claim-Smart Contributor
Sep 24, 2024
8
0
FCA launches consultation to extend the deadline for response to DCA complaints
The Financial Conduct Authority (FCA) intends to pause the time for responses to motor finance complaints involving DCAs. The original...
Claim-Smart Contributor
Jul 30, 2024
9
0
FCA reminds motor finance lenders they must maintain adequate financial resources at all times.
Today's three-page letter from the FCA director of consumer finance Roma Pearson outlines to motor finance lenders CEOs what the FCA...
Claim-Smart Contributor
Apr 12, 2024
5
0
Barclays Partner Finance starts judicial review proceedings in relation to a Financial Ombudsman Service (FOS) PCP complaint decision
Barclays has become the first motor finance lender to launch a legal challenge against a regulatory ruling regarding DCA payments, with...
Claim-Smart Contributor
Apr 9, 2024
4
0
On 11 January 2024, FCA announced a review into whether motor finance customers have been overcharged because of the past use of DCAs
This pause of reviewing PCP mis-sold complaints by the motor finance lenders will take place from the 11th January 2024 until the 25th...
Claim-Smart Contributor
Jan 11, 2024
5
0
FOS finds in favour of consumer, in complaint about commission Black Horse, paid to a credit broker
FOS upholds Mrs Y's complaint that commissions paid by Black Horse to the credit Broker worth nearly £1,300 failed to act fairly and...
Claim-Smart Contributor
Jan 10, 2024
12
0
FOS finds in favour of consumer, in complaint about commission Clydesdale Financial Services Limited trading as Barclays Partner Finance, paid to a credit broker
FOS upholds Miss L's complaint that commissions paid by Barclays to the credit Broker worth nearly £1,600 failed to act fairly and...
Claim-Smart Contributor
Jan 10, 2024
6
0
bottom of page