Car finance industry faces ‘substantial threat' from ‘PPI-style' scandal [Yahoo! Finance]
Banco Santander, S.A. Sponsored ADR (Spain) (SAN)
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Source: Yahoo! Finance
Banks and other motor finance lenders are bracing for a flood of new claims linked to hidden commissions on loans, prompting the City watchdog to give them longer to deal with the crisis. The Financial Conduct Authority (FCA) extended the time all lenders have to deal with a deluge of complaints on Wednesday. Mr Lewis, the founder of Money Saving Expert, said “almost everyone who has had car finance deals may have a complaint”. He wrote on X, formerly Twitter: “This potentially more than doubles the number of people involved, and would really start to look more like PPI scale of payouts (and a substantial threat to the car finance industry).” The FCA said it would write to the Supreme Court asking it to make a quick decision on whether it will allow lenders to appeal to last month's crucial ruling by the Court of Appeal, which has deepened the motor finance mis-selling scandal. The call for speed comes amid concerns about the impact of the crisis on the banking sector and t
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News
- PBB Bond Sale Said to Leave Banks Stuck With a Chunk of Debt [Yahoo! Finance]Yahoo! Finance
- Santander Markets At Least a Dozen SRTs in Move to Boost Profits [Yahoo! Finance Canada]Yahoo! Finance Canada
- Banco Santander, S.A. (NYSE: SAN) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Banco Santander, S.A. (NYSE: SAN) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Automotive Finance Market to surpass $544.1 Bn by 2032, Says Global Market Insights Inc. [Yahoo! Finance]Yahoo! Finance
SAN
Earnings
- 10/30/24 - Miss
SAN
Analyst Actions
- 9/7/24 - UBS Group AG
SAN
Sec Filings
- 11/21/24 - Form 6-K
- 11/14/24 - Form 6-K
- 11/12/24 - Form 13F-HR
- SAN's page on the SEC website