Close Brothers to scale back lending after motor finance hit Banking Close Brothers is set to scale back its premium finance division in a bid to cut costs and focus on its offerings for businesses. The lender said on Wednesday it would begin to prioritise insurance products designed for businesses in its commercial lines, which the firm said offered better risk-adjusted returns and long-term growth potential. This will [...]
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.
FCA to review UK premium finance market amid price hike concerns insurance The UK's financial regulator is to review Britain's premium finance market amid worries that consumers who borrow to pay for insurance may not be getting fair or competitive deals.
