Motor Finance Redress Schemes Update

Summary by AI BETAClose X

Vanquis Banking Group plc has confirmed it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes and is focusing on implementation, noting it was not involved in discretionary commission or tied selling arrangements. The previously disclosed £3.0 million provision for this matter remains unchanged, and the company is committed to providing appropriate customer redress. Vanquis also intends to release its first quarter 2026 trading statement on May 6th.

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