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Barclays judicial review delayed pending Supreme Court judgment
Barclays’ legal challenge to a Financial Ombudsman Service (FOS) decision on auto finance commission payments has been postponed until...
Claim-Smart Contributor
Jul 2
FCA publishes considerations in implementing a possible motor finance consumer redress scheme
The Financial Conduct Authority (FCA) has outlined key considerations for implementing a potential redress scheme for consumers affected...
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Jun 6
FOS consults on interest rates applied to compensation awards
On 4 June 2025, the Financial Ombudsman Service ( FOS ) issued a consultation paper on interest on compensation awards. The paper...
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Jun 5
Supreme Court case concludes
Between 1 and 3 April 2025, the UK Supreme Court heard the appeal by Close Brothers and FirstRand Bank against the Court of Appeal’s...
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Apr 5
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...
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Mar 11
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...
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Feb 24
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...
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Feb 20
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.
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Feb 18
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.
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Feb 12
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...
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Dec 17, 2024
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...
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Nov 20, 2024
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...
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Nov 13, 2024
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...
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Oct 25, 2024
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...
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Sep 24, 2024
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...
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Jul 30, 2024
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...
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Apr 12, 2024
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
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
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
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
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