Vanquis Banking Group (LSE:VANQ) said in an update that it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes and is focused on implementation.
The Group said it did not participate in discretionary commission arrangements or operate tied selling arrangements and is therefore not in scope for those elements of the Schemes.
The previously disclosed £3 million provision in respect of this matter remains unchanged.
Vanquis said it remains committed to ensuring appropriate redress to customers where loss has occurred and intends to release its first-quarter 2026 trading statement on 6 May.
