Santander takes fresh swipe at City watchdog as its car loan scandal bill tops £460m

2026-02-04 - 10:25

UK arm brands FCA’s compensation scheme ‘overreach’ as Spanish owner signs surprise $12bn takeover of Webster Bank in US Santander has accused the City watchdog of overreach after its bill for the UK motor finance scandal reached £461m, as the Spanish lender inked a $12bn takeover of an American bank. The bank – which announced the surprise takeover of US-based Webster Bank on Tuesday night – took a fresh swipe at the Financial Conduct Authority (FCA) on Wednesday over a compensation scheme for the scandal. Continue reading...