Last mentioned: Mar 17, 2026
Workforce Reduction Announced
Close Brothers confirms plans to cut nearly a quarter of its staff to manage financial impact.
Court of Appeal Ruling
A landmark ruling in Hopcraft v Close Brothers increases lender liability for undisclosed commissions.
FCA Investigation Launched
The Financial Conduct Authority begins a probe into motor finance commission practices.
Close Brothers Group is set to eliminate nearly a quarter of its staff following the fallout from the UK motor finance commission scandal. The move aims to stabilize the bank's finances as it faces significant potential compensation payouts and legal costs.