Volkswagen's UK Unit Hit with $5.4 Million Fine for Borrower Mistreatment

In a significant development, Volkswagen’s financial services arm has been penalized with a hefty fine amounting to £4.4 million (approximately $5.4 million) for improperly handling borrower accounts in the United Kingdom. The action stems from the Financial Conduct Authority (FCA) discovering that the subsidiary engaged in unfair practices that negatively impacted customers seeking financial assistance and vehicle financing options.

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