Branch² Intelligence
City watchdog suspends parts of £9bn motor finance scheme after industry backlash
Key takeaway
FCA suspends parts of £9bn motor finance redress scheme after industry backlash.
- Step 1FCA suspends parts of £9bn motor finance redress scheme after industry backlash.
- Step 2Motor finance lenders reduce provisions, improving near-term earnings but leaving long-term liability uncertain.
- Step 3UK SMEs in motor finance distribution (car dealers, leasing firms) face continued regulatory uncertainty, delaying investment and hiring.
Source: City A.M.
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