Volkswagen Financial Services (UK) Limited

The FCA’s Final Notice (21 October 2024) says Volkswagen Financial Services (UK) Limited breached PRIN 3, PRIN 6, PRIN 7, CONC and DISP in how it treated consumers in financial difficulty under consumer credit arrangements. PRIN 3 requires firms to organise and control their affairs responsibly; PRIN 6 requires them to pay due regard to customers’ interests; PRIN 7 requires clear, fair and not misleading communications; CONC covers consumer credit conduct rules; DISP covers complaints handling. The FCA imposed a financial penalty of £5,397,600. The regulator’s Final Notice is published at the FCA URL supplied by the firm’s register entry.