Motor finance complaints to resume on 1 June
The Financial Conduct Authority will lift its pause on motor finance complaints from 1 June. The FCA paused the complaints process while it considered an industry-wide compensation scheme relating to […]
motor finance
Motor finance claims bad practice tackled by FCA taskforce
Motor finance claims mishandling will be tackled by a new joint taskforce set up by the Financial Conduct Authority. It is joining the Information Commissioner’s Office (ICO) and Advertising Standards Authority […]
FCA extends motor finance compensation scheme consultation
The Financial Conduct Authority has extended the deadline for its consultation on its motor finance compensation scheme. It proposed the scheme last month after it was found that motor finance […]
FCA proposes motor finance compensation scheme
About 14 million drivers can expect payouts of around £700 as a result of a motor finance compensation scheme proposed by the Financial Conduct Authority. It estimates total the total […]
Regulators target bad practice in motor finance claims
A number of regulatory bodies are working together to tackle high fees charged by claims management companies dealing with motor finance claims. The Financial Conduct Authority (FCA), Solicitors Regulation Authority […]
Startline targets growth to 3% of UK motor finance market
Startline targets growth to three per cent of the UK motor finance market after securing a five-year, £475m credit facility from investment bank J P Morgan. The company now manages […]
Landmark motor finance ruling to go to appeal
A landmark ruling on commissions paid in motor finance will go to appeal, the Supreme Court has said. The ruling in October deemed that paying undisclosed commissions in car finance […]
NFDA responds to FCA measures
The National Franchised Dealers Association (NFDA) has urged members to take the necessary steps to meet new measures introduced by the Financial Conduct Authority around motor finance. The FCA announced […]