VW finance arm fined after cars towed away without notice

Volkswagen's financial services arm has become the fifth UK company to be penalised by the FCA for not treating customers in financial difficulty fairly.

By Neasa MacErlean

A fine of £5.4 million, as well as a redress scheme, bring its regulatory costs to nearly £27m. A 30 per cent discount on the penalty, for "agreeing to resolve matters", has kept the total sum from exceeding £30m.