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The Latest Breaking News from FCA

Regulator to review claims management companies amid ‘poor practices’ concerns

Consumers were being let down ‘too often’, the Financial Conduct Authority said.

Evening Standard

UK regulator launches review of ‘aggressive’ claims management firms amid compensation concerns

FCA focuses on marketing, misleading ads, unfair exit fees and people being signed up without their permission

The Guardian - UK

New free financial advice plan aims to help Britons build savings

‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions

The Guardian - UK

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FCA faces four lawsuits over £9.1bn compensation scheme for car loan victims

Watchdog says legal challenges from Consumer Voice and three lenders ‘create fresh uncertainty for millions of consumers’

The Guardian - UK

Watchdog warns millions face ‘fresh uncertainty’ over car finance compensation

Three lenders and a consumer group have launched legal challenges to the Financial Conduct Authority’s redress scheme.

Evening Standard

Canada to create powerful financial crimes agency as US weakens its approach

Cryptocurrency ATMs also face ban, after public inquiry found Canada lacked anti-money-laundering strategy

The Guardian - UK

Mercedes-Benz among firms to challenge FCA’s car finance compensation scheme

It comes days after several of the UK’s biggest lenders said they had decided not to pursue a challenge.

Evening Standard

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Mercedes-Benz among firms to challenge FCA car finance compensation scheme – here’s what to know

It comes days after several of the UK’s biggest lenders said they had decided not to pursue a challenge

The Independent UK

City regulator reviewing whether APRs help consumers understand borrowing costs

The Financial Conduct Authority said that to help people navigate their financial lives, it is asking for views on whether there is a better way.

Evening Standard

Stellantis Is Focusing On The Four Brands That 'Really Matter:' Report

When Stellantis was created in 2021 following the PSA-FCA mega-merger, Carlos Tavares vowed to keep all 14 brands and secure their future through investment. The Portuguese executive has since left the automotive conglomerate before his five-year contract expired, and his replacement is reportedly about to shake things up. Although Antonio…

Motor1

Path clears for city watchdog to proceed with £9.1bn car finance payout scheme

The Finance and Leasing Association said it had ‘concerns’ about the programme but that it was choosing not to raise a legal challenge.

Evening Standard

Santander agrees to pay compensation on mis-sold car loans

Payouts are due on about 12.1 million mis-sold deals from various lenders at an average of £829 each, the Financial Conduct Authority said.

Evening Standard

UK regulator part of international crackdown on finfluencers acting illegally

The Financial Conduct Authority is among 17 regulators worldwide to have taken part in a week of action.

Evening Standard

Industry-backed campaign aims to boost UK’s investment culture

A survey for the Invest For The Future campaign indicated that 10.1 million savers are interested in learning more about investing.

Evening Standard

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The Independent UK

Meet Savvy the Squirrel - the government’s answer to get you investing

A survey for one campaign indicated that 10.1m savers are interested in learning more about investing

Evening Standard

City watchdog faces legal action over £9.1bn car finance compensation scheme

Consumer Voice is to apply to the upper tribunal for a review of the scheme.

The Guardian - UK

City watchdog faces legal action over £9.1bn compensation scheme for car loan victims

Exclusive: Lawyers for group Consumer Voice notified FCA they are challenging redress scheme as inadequate

The Guardian - UK

Carmakers scramble to plug £3bn shortfall for UK loan scandal payouts

Filings suggest manufacturers’ lending arms have massively underestimated bill from FCA’s £9.1bn redress scheme

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Evening Standard

NatWest financial education workshops aim to ‘break down barriers’ to investing

The bank hopes to support 50,000 people during 2026 with the free guidance.

The Guardian - UK

Close Brothers shares surge after UK bank says it can ‘comfortably absorb’ cost of car finance compensation

Specialist lender says it expects its slice of £9.1bn compensation set by FCA to be about £320m

Evening Standard

Close Brothers says £320m car finance hit can be ‘comfortably absorbed’

Shares in the lender were up by nearly a fifth on Wednesday morning.

TechRadar

NHS staff push back against using 'ethically bankrupt' Palantir software, say 'it doesn't do anything new for us'

Some NHS workers are refusing to use Palantir software over the company's ties to controversial activity.

The Independent UK

‘Game changing’ support set to help millions navigate their financial lives

Financial firms will be able to provide suggestions designed for groups of consumers with common characteristics.

The Guardian - UK

Claim sooner rather than later, experts urge, after £7.5bn car loan compensation scheme launched

The key takeaways for who is eligible and how to seek redress from the new FCA motor finance scheme

Evening Standard

Lloyds sticks to £2bn provision for motor finance compensation

This is despite the FCA making a number of changes to the scheme, compared to its original proposals set out last year.

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