Consumer Duty
Why the Financial Ombudsman Service rulings prompt a FCA probe into discretionary commission car loans
Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly influencing its decision to dive deeper into this issue.
FCA could plan system for mass claims on unfair car loan commissions
The Financial Conduct Authority could implement a simplified claims process if it deems there has been widespread unfair treatment of car buyers due to discretionary commission agreements between lenders and car dealers or brokers.
Executive View: Vulnerable customer identification under the FCA's Consumer Duty
The pressure on UK motor retailers to identify vulnerable customers ahead of the motor finance sales process has increased since the arrival of the latest regulatory regime, and Jonathan Barrett, chief executive of Comentis, shares his thoughts on what this means for regulated firms.