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Volkswagen Finance has been ordered to pay £21.5 million in compensation to 110,000 customers after the Financial Conduct Authority found it failed to treat struggling customers fairly. The firm also received a £5.4 million fine for its actions, which included repossessing vehicles from vulnerable individuals.
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The trend of bank branch closures has intensified, particularly affecting lower-income and minority communities. Major banks like Lloyds and RBS are shuttering hundreds of locations, raising concerns about access to essential banking services. This shift towards digital banking is leaving many without vital face-to-face support.
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The Conservative Party leadership contest is intensifying as candidates pitch their visions at the party conference in Birmingham. Key figures, including James Cleverly and Tom Tugendhat, are vying for support from MPs and party members ahead of the final vote on November 2.
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TSB Bank is experiencing significant outages affecting online and mobile banking services, with thousands of customers reporting issues since early Thursday morning. The bank has acknowledged the problem and is working to resolve it, compounding recent customer frustrations following a previous systems error that delayed payments.