Skip to content
City AM
Main navigation
Download free app
  • News
    • News
      • Latest Business News
      • Economics
      • Politics
      • Insurance
      • Square Mile and me
      • Tech
      • Legal
      • Banking
      • Property
      • Retail
      • Crypto
      • Transport
    • From our partners
      • AON
      • Tottenham Hotspur Stadium
      • Eastern City BID
      • London Stansted Airport
      • YourCause from Blackbaud
      • Inside Saudi
      • Central London Alliance CIC
    • Featured

      test_editor

      The owner of Ray-Ban has issued a warning. (Photo by Sergio Albert/Ray-Ban via Getty Images)

      Submit a story

      Tell us your story.

      Submit
  • Opinion
  • Sport
    • Latest Sports News
      • Sport
      • Sport Business
      • The Punter
    • From our partners
      • The Morning Briefing: SBS x City AM
      • Aramco Team Series
      • LIV Golf
    • Featured

      Premiership run-in: Saints and Bath will impact top four

      2Look at the Premiership table and you’ll see that the top team and Challenge Cup finalists Bath are 15 points clear of second-placed Leicester Tigers, and Champions Cup finalists Northampton Saints are 17 points safe from dropping out of the top eight.

      Submit a story

      Tell us your story.

      Submit
  • Investec
  • Life&Style
    • Life&Style
      • Life&Style
      • The Magazine
      • Travel
      • Culture
      • Motoring
      • Wellness
      • The RED BULLETiN
      • Do it with Shared Ownership
      • The King’s Awards 2024
    • Featured

      Here We Are, National Theatre, review: Stephen Sondheim musical is more Severance than sing-a-long

      Rory Kinnear and Jane Krakowski lead the cast in Here We Are, the final show with music from the composer Stephen Sondheim (Photo: Marc Brenner)

      Submit a story

      Tell us your story.

      Submit
  • Latest Paper
  • Personal Finance
  • CityAM Awards
  • Sign In
  • Sign Out
  • My Account

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Take 2 mins to learn more at www.coinbase.com/uk-fca-info

close brothers

  • Close Brothers restarts motor finance lending following landmark ruling

    Banking

    Close Brothers has restarted its motor finance lending practice a month after a landmark court ruling over the legality of its business. On 25 October, a court ruled that a broker could not lawfully receive a commission from the lender without obtaining the customer’s fully informed consent to the payment, sending the entire motor finance [...]

    Banking complaints soared on the back of the motor finance scandal.
  • Close Brothers warned of £640m hit if car loan scandal spreads

    Banking

    Close Brothers could take a hit to its profits worth almost double its stock market value if a brewing car loan scandal spreads to other areas of consumer finance, analysts have warned.

    Close Brothers is already considered the most exposed bank to the FCA's motor finance review in relative terms. (Photo by Hannah Songer/Bloomberg via Getty Images)
  • Motor finance industry in crisis mode after landmark court ruling

    Banking

    Motor finance providers are scrambling to avoid a full-blown market meltdown after a landmark London court ruling on "secret" car loan commissions sparked chaos across the sector.

    Close Brothers shares slumped on Tuesday after the firm published its results.
  • Lloyds shares slump as analysts warn of £3.9bn motor finance bill

    October 28, 2024

    Shares in Lloyds Banking Group and Close Brothers fell further on Monday after a landmark London court ruling that could expose motor finance providers to billions in extra compensation.

  • Close Brothers to sell asset management arm as motor finance bill looms

    September 19, 2024

    Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.

  • Close Brothers boss to take temporary medical leave of absence

    September 16, 2024

    The bank said it would provide a further update "in due course". Its full year results will be announced on Thursday as planned.

  • Close Brothers shares jump as RBC sees ‘a number of potential catalysts’

    August 29, 2024

    Shares in Close Brothers jumped on Thursday after RBC upgraded its recommendation on the lender's stock, which has been dragged down by its exposure to a City watchdog review into unfair car loans.

  • Motor finance test cases against Close Brothers and Firstrand head to Court of Appeal

    July 2, 2024

    A test case containing three cases relating to motor finance commission will be heard at the Court of Appeal this week.

  • FTSE 100 giant Natwest and Close Brothers set to benefit from Labour government, analysts say

    June 26, 2024

    UK banking stocks are poised to enjoy a "good backdrop" if Labour wins the general election on 4 July, according to a leading broker, highlighting benefits for Natwest and Close Brothers.

  • Close Brothers shares drop as motor finance arm deals with two FCA reviews

    May 22, 2024

    Shares in merchant banking group Close Brothers fell as much as 6.6 per cent on Wednesday morning as its motor finance business faces compensation costs tied to two market-wide reviews from the Financial Conduct Authority (FCA).

Posts pagination

  • Page 1
  • Page 2
  • Next

Trending Articles

  • Factory output keep sliding as China struggles to find growth

  • Firms too vulnerable to defaults

  • ‘I’ve directed Sir David Attenborough for 40 years – these are my best stories’

  • The new A-Class really is all class

  • England’s Test and Trace system misses one in four people with coronavirus

  • RAPID responses

  • Restructurings to continue…

  • SFO drops prosecution of biotech millionaire Sir Christopher Evans

  • Revised version of the Pubs Code due in July, but industry is “disappointed” it won’t be backdated to original enforcement date

  • Modi government presents first budget

Subscribe

Subscribe to the City AM newsletter to have our top stories delivered directly to your inbox.

Subscribe
  • About us
  • Careers
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy
  • News
  • Markets & Economics
  • Opinion
  • Life&Style
  • Personal Finance
  • Got a story?
  • The Punter
  • City AM Curated
  • Wine
  • Casino

Follow us for breaking news and latest updates

  • Facebook
  • X
  • Instagram
  • LinkedIn
  • Newsletters
  • Advertising
  • About
  • Tickets
Copyright 2025 City AM Limited