Close Brothers Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Motor-finance redress and dividend cancellation
Close Brothers cancelled its dividend and disclosed substantial expected costs associated with borrower compensation, legal proceedings and the Financial Conduct Authority’s motor-finance scheme. The group also indicated that it had set aside approximately £300 million for related redress.
2024
Motor-finance commission litigation
A court ruled against Close Brothers and FirstRand Bank over motor-finance arrangements in which dealers received commissions for recommending loans without the commissions being adequately disclosed to vehicle buyers.