– The Financial Conduct Authority (FCA) has advised motor finance firms to prepare for potential payouts amid an ongoing investigation into commission arrangements between lenders and car dealers.
– Banking Group’s Shares Experience 50% Decline Over Past Month
-Dividend Scrapped as Close Brothers Cites ‘Uncertainty’ Over FCA’s Review
-Financial Watchdog Investigates Historical Motor Finance ‘Discretionary’ Commissions
The financial institution, responsible for approximately one-sixth of car loans in the UK, disclosed this development alongside the unveiling of record annual profits totalling £7.5 billion for the fiscal year 2023.
