The Latest Breaking News from FCA

The Finance and Leasing Association said it will be ‘interesting to see’ how dated information will be addressed in the FCA’s consultation.

A court ruling means payouts will be at the lower end of initial estimates – though are still worth billions

Lloyds Banking Group and Close Brothers saw big share gains after the industry won a reprieve in the motor finance case before the UK’s highest court.

Lloyds and Close Brothers surge after Friday’s court decision slashed the expected bill for compensation on mis-sold loans

Rolling coverage of the latest economic and financial news, as shares in Lloyds and Close Brothers jump

British finance firms behind high interest car loans could have to pay out more than nine billion pounds ($12 billion) in compensation despite the country's highest court ruling that most of the controversial deals were lawful, a financial watchdog said Sunday.

It is thought millions have people have been affected.

Martin Lewis says there is a ’very high likelihood’ that many people will receive hundreds of pounds in compensation

Editorial: Millions were overcharged on car loans they didn’t fully understand. The courts said this was unfair. It’s time for regulators and ministers to deliver redress

IN FULL

The Supreme Court ruled that hidden commissions from lenders to dealers on car loans were not unlawful