Volkswagen Finance fined £5.4m for treatment of customers in financial difficulty and vulnerable customers

FCAEnforcementVulernable customersBiFIDMotor finance
Written By Richard Wegrzyn

The FCA has fined Volkswagen Financial Services (UK) Limited (Volkswagen Finance) £5,397,600 for failing to treat its customers in financial difficulty fairly. The failings were identified through the FCA’s Borrowers in Financial Difficulty work.

Our gap analysis covers the range of findings, including:

  • Treatment of vulnerable customers

  • Forbearance

  • Termination and repossession

  • Customer communications

  • Complaints

  • Policies and procedures

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Richard Wegrzyn https://www.avyse.co.uk
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