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 11st-order: FCA suspends parts of £9bn motor finance redress scheme after industry backlash.
- Step 22nd-order: Motor finance lenders reduce provisions, improving near-term earnings but leaving long-term liability uncertain.
- Step 33rd-order: UK 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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