The UK’s motor finance industry faces continued uncertainty following the Supreme Court’s recent decision to block a Treasury attempt to intervene in an ongoing car finance scandal. The decision signals potential financial consequences running into billions, impacting both lenders and borrowers alike. Supreme Court Rejects Treasury Intervention The UK’s highest court refused the Treasury’s application … Read more
The world of car loans just took a serious turn with a major Court of Appeal ruling against lenders MotoNovo Finance and Close Brothers. The case centred around “secret” commission payments on motor finance deals, has the potential to reshape the industry, and has understandably left consumers and lenders alike wondering what happens next. The … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japan’s Nomura said profits more than doubled in its latest quarter, to their highest point in four years, a day after the bank’s chief executive took a pay cut as he accepted accountability for a … Read more