CarLoans

FirstRand Navigates Uncertainties Amid UK Car Loan Controversy

3 months ago

In a significant development within the financial sector, FirstRand Ltd., a prominent South African banking group, is contemplating the future of its operations in the United Kingdom against the backdrop of a growing controversy surrounding car loans. The organization has been facing mounting pressures as allegations emerge about unfair lending practices tied to its motor vehicle financing division.

Close Brothers Faces £165 Million Provision Due to Controversial Car Loans

3 months ago

In a significant financial move, Close Brothers Group has announced that it will set aside a whopping £165 million as a provision linked to its car loans business. This decision follows a turbulent period involving scrutiny over the pricing practices of its car finance segment.

UK FCA Grants Banks More Time to Address Car Loan Complaints

5 months ago

In a significant development for both consumers and banking institutions in the UK, the Financial Conduct Authority (FCA) has extended the deadline for banks to respond to a surge of complaints related to car loans. The move comes amid growing frustration from consumers who have encountered issues ranging from mis-sold loans to lack of transparency regarding repayment terms.

UK’s FCA Considers Extending Deadline for Car Loan Complaints Against Banks

6 months ago

The Financial Conduct Authority (FCA) in the UK is currently deliberating whether to extend the deadline for customers to submit complaints related to car loans facilitated by banks. This potential shift comes in light of ongoing discussions regarding the adequacy of the current timeframe allowed for individuals to voice their grievances against banks over car financing deals. The regulatory agency aims to adjust the timelines in a manner that ensures fair treatment for consumers while also holding banks accountable for any missteps in their lending practices.