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Santander UK sets aside £295m for motor finance payout

Summary by City AM
Santander UK has set aside £295m in its quarterly results to pay out to motor finance customers following a landmark court ruling on the topic last month. The bank had previously delayed its third-quarter results thanks to the high court ruling, which it said had left it unable to calculate the potential cost of the decision. The ruling sided with consumers and ruled it unlawful for car dealers to get a commission from lenders “without obtaining…
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