November 5, 2024
Bank of Ireland ‘pauses’ new lending at its €3bn UK motor loans business #UKFinance

Bank of Ireland ‘pauses’ new lending at its €3bn UK motor loans business #UKFinance

CashNews.co

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Bank of Ireland’s UK motor finance business, Northridge Finance, “temporarily paused” new lending applications in the aftermath of a significant court ruling in the country regarding secret motor finance commissions.

The bank could also be facing a bill worth almost €1bn off the back of a UK watchdog review into the discretionary commission agreements and the latest court ruling, according to sector analysts.

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