Santander Plans UK Restructuring
This is a UK news story, published by Yahoo Finance, that relates primarily to Banco Santander SA news.
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Banco Santander SAGlobalData
•Business
Business & Economics
Santander plans UK restructuring to ring-fence motor finance unit

83% Informative
Banco Santander SA preparing to restructure its UK operations by carving out its consumer finance unit, according to Bloomberg News .
The affected unit includes the bank’s motor finance operations, which have been caught up in the wider UK car loan mis-selling scandal.
The litigation risk stems from a 2023 Court of Appeal ruling that deemed it unlawful for lenders to pay commissions to car dealers without informing customers.
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