Volkswagen fined £5.4m for mistreating customers; UK interest rates ‘to fall to 2.75%’ next year – as it happened

Volkswagen Finance has agreed to pay over 21.5m in redress to around 110,000 customers who may have suffered harm because of its failings.

Volkswagen Financial Services has apologised for the failings identified by the FCA, saying (via Reuters):

We are in the process of concluding our remediation efforts as we continue to provide goodwill payments to affected customers and apologise for any detriment caused."