Secure Trust Bank warns investors over UK car-finance ruling’s impact on profits
By Sofia Gerace ( November 1, 2024, 15:03 GMT | Insight) -- Uncertainty over the latest UK Court of Appeal ruling — which sided with customers in a car-finance complaint — continues to spread within Britain's lending industry. Secure Trust Bank told investors today that its profits are set to be lower than expected. Santander UK has delayed its third-quarter earnings publication, and Metro Bank has temporarily paused its activities.Secure Trust Bank has issued a profit warning following a car-finance ruling last Friday, which found it is unlawful for brokers to receive commissions from lenders over car-finance deals....
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