The Financial Conduct Authority has set out some of the factors it will consider if it launches a UK-wide consumer redress scheme as part of its review into car loans commission.
Ford’s motor finance subsidiary FCE Bank has set aside £61 million to cover potential compensation claims as it awaits a crucial Supreme Court judgment on car finance mis-selling practices.
Banco Santander is reportedly considering separating its car finance division from the rest of its UK operations, as fears mount over potential redress on motor finance commission
The Supreme Court now faces the complex task of weighing consumer protection against the operational realities of the motor retail industry
The UK's motor finance industry must wait until the summer to hear whether the Supreme Court will overturn the notion that lenders and their partner car dealerships have been unfair with their customers because of the finance commission paid to dealers.
The National Franchised Dealers Association (NFDA) today fiercely countered accusations that its members have engaged in bribery for decades as the Supreme Court appeal continues
A landmark Supreme Court case could determine the fate of a potential £44bn compensation bill linked to undisclosed dealer commissions.
A third (34%) of drivers are unaware they may be entitled to compensation due to historic discretionary commission arrangements (DCAs), according to a new survey by direct-to-consumer online lender Carmoola.
New research reveals that 65% of car finance customers who took out loans before the ban on discretionary commission arrangements (DCAs) trusted their dealer to offer them the best deal
The Finance and Leasing Association admits it is bracing for all possible outcomes - both good and bad – in the imminent Supreme Court’s ruling on commission disclosure which will ultimately determine a lender’s fiduciary duty and whether it will be enshrined as a permanent legal standard.
Lloyds Banking Group, which owns Black Horse Motor Finance and Lex Autolease, has put another £700 million into its pot for potential compensation while it awaits the outcome of the car loan commission saga at the Supreme Court.
A new survey has revealed that half of car buyers are reconsidering using dealer-provided finance due to concerns over undisclosed commission payments.
The Supreme Court has rejected Chancellor Rachel Reeves’ attempt to intervene in a landmark case concerning hidden commissions in car finance, dealing a blow to lenders facing a compensation bill potentially running into billions.
Chancellor Rachel Reeves has taken action to protect car loan providers from potential multibillion-pound payouts in a pivotal mis-selling case to be heard at the Supreme Court
The Financial Conduct Authority (FCA) has announced an extension for firms to respond to complaints about motor finance agreements that do not involve discretionary commission arrangements (DCAs).
The High Court has ruled in favour of the Financial Ombudsman Service (FOS) in a dispute concerning a discretionary commission arrangement (DCA) within a motor finance agreement.
The Supreme Court has granted permission for two car lenders to appeal a landmark ruling on motor finance commission payments that has raised concerns over a potential £30 billion compensation bill.
The financial crisis brewing in the UK’s motor finance sector could rival the infamous £50 billion Payment Protection Insurance (PPI) consumer scandal, the Financial Conduct Authority's (FCA) top legal chief has conceded.
Liberal Democrat MP for Wokingham Clive Jones heard firsthand about the significant discrepancies in the cost of home versus public charging and the need for additional government support to entice motorists to go green when he visited Select’s HQ in Reading.
The probe into historic motor finance practices by some car loan providers could cost the industry £30 billion, according to ratings agency Moody's.
