Consumer champion Martin Lewis’s free tool for consumers to probe whether they were victims of discretionary commission agreements (DCAs) has logged the filing of over half a million complaints.
AM interviews Bill Fennell, head of The Motor Ombudsman, who discusses the heighted regulatory scrutiny, the watchdog's plan to introduce artificial intelligence to manage an ever-increasing case load and the ombudsman's role in the adoption of EV technology.
This year could go down in history for the automotive industry, for the most unusual reason, writes AM's regular columnist Professor Jim Saker, emeritus professor of Loughborough University's business school and president of the Institute of the Motor Industry.
Eight out of ten insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance at the request of the financial watchdog.
A used car dealer from South Wales has been jailed after selling a vehicle in a “dangerous condition”.
Consumer champion Martin Lewis has launched a free tool for consumers to use in logging a complaint about discretionary commission agreements (DCAs) in their car loans.
The UK would be wise to appoint a ‘car czar’ charged with coordinating efforts to promote electric vehicles,
The Serious Fraud Office (SFO) is prosecuting former company directors Reginald Larry-Cole and Scott Martin for fraud in relation to the nationwide car leasing scheme, Buy2Let Cars, which attracted hundreds of British savers to pay in around £88 million.
The Financial Conduct Authority has just told AM it has "no intention of banning GAP Insurance", in response to unsubstantiated reports that the product must be scrapped this year.
The Financial Conduct Authority has appointed a third-party independent expert to consult with car loans firms as the regulator progresses its review of historic discretionary commission arrangements.
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.
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.
The Financial Conduct Authority has announced it is looking deeper at historical agreements between motor finance companies and their brokers or car dealers because of mounting complaints, some of which have been upheld by the Financial Ombudsman Service. But what is causing its concern?
Historical arrangements used by motor finance firms to pay commission to car dealers and brokers are being reviewed by the Financial Conduct Authority in case consumers have not been treated fairly.
The Competition and Markets Authority (CMA) has handed a £2.5 million fine to vehicle salvage firm Copart for ignoring the regulator's orders.
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.
Dealers have shared concerns that the Government's Zero Emission Vehicle (ZEV) Mandate will create a forced new electric vehicle (EV) market in 2024.
Retail software house Automotive Transformation Group (ATG) is working with iVendi to enable dealers to offer an advanced consumer journey
Phillip Williams, founder and non-executive director at Oodle Car Finance, looks at what Consumer Duty means in practice and offers some pointers on navigating the new regulations.
While watched by the Financial Conduct Authority, finance and insurance still delivers welcome profit for car dealers. Debbie Kirlew reports
An artificial intelligence system is set to help Oodle Car Finance to identify vulnerable consumer credit customers and to ensure its staff adapt their behaviours accordingly.
The Financial Conduct Authority (FCA) has moved to protect those in financial difficulty by requesting unregulated buy-now-pay-later BNPL firms to make changes to potentially unfair and unclear contract terms as new research reveals a significant increase in the use of short term financing.
The Financial Conduct Authority has reiterated that all business leaders need to exercise sound judgement and set an example as it announced it has decided to fine former Barclays chief executive James Staley £1.8 million for "misleading statements".
A director of an AM100 dealer group has branded the UK Government’s zero emissions vehicle strategy “a bloody shambles” after targets were reaffirmed by the Department for Transport yesterday.
The Department for Transport (DfT) has officially announced the implementation of a Zero Emissions Vehicle (ZEV) mandate slated to take effect next year.
