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Close Brothers shares crash as analysts expect 'refined' motor finance ruling

Summary by City AM
Shares in FTSE 250 lender Close Brothers fell as much as eight per cent on Monday as the landmark motor finance hearing came to a close. At the Supreme Court case, Close Brothers attempted to overturn the Court of Appeal’s October ruling that it was unlawful for banks to pay a commission to a car dealer without the customer’s informed consent. The highest court in the land is expected to reach a judgment on the case in the forthcoming months, le…
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City AMCity AM

Close Brothers shares crash as analysts expect 'refined' motor finance ruling

Shares in FTSE 250 lender Close Brothers fell as much as eight per cent on Monday as the landmark motor finance hearing came to a close. At the Supreme Court case, Close Brothers attempted to overturn the Court of Appeal’s October ruling that it was unlawful for banks to pay a commission to a car dealer without the customer’s informed consent. The highest court in the land is expected to reach a judgment on the case in the forthcoming months, le…

·London, United Kingdom
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Motor TraderMotor Trader

Legal firm MILS guides dealers through Supreme Court motor finance case

The motor finance commission case is winding up today with the final submissions. Legal expert MILS, which provides the Legal Surgery for Motor Trader,  is attending each day to give dealers a clear summary of what happened. Tuesday saw submissions from by Close Brothers and FirstRand Bank Wednesday saw more submissions from the two banks, and also the NFDA and submissions by by Hopcroft, Wrench and Johnson. Thursday saw further submissions by H…

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Motor Trader broke the news in on Thursday, April 3, 2025.
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