Santander UK has announced a delay in its third-quarter earnings report due to "uncertainty" surrounding the Financial Conduct Authority's motor finance redress scheme.

The Spanish banking behemoth was scheduled to release its financial report for the third quarter on Wednesday, but has postponed it "pending greater clarity regarding the [Financial Conduct Authority]'s proposals".

Mike Regnier, the bank's UK chief, said: "We believe that the level of concern in the industry and market is such that material changes to the proposed FCA redress scheme should be an active consideration for the UK Government."

He cautioned that if the government does not step in, "the unintended consequences for the car finance market, the supply of credit and the resulting negative impact on the automotiv

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