Coronavius crisis has meant FCA is putting back the release of car finance findings
Lenders are urged to treat customers fairly as the coronavirus pandemic leads to many borrowers facing financial difficulties
Automotive Services International has said automotive finance payment deferrals introduced during the coronavirus pandemic could see customers incur unintended costs.
Lookers will close a further 12 car dealerships and cut its employee headcount by up to 1,500 as part of a restructure plan aiming to make annual savings of £50 million.
FCA compliance should not be forgotten when dealers are revising their sales processes to meet the Governments guidelines for social distancing.
The Financial Conduct Authority has warned motor finance firms not to repossess vehicles or end contracts with customers in financial difficulty due to the coronavirus pandemic.
While new car sales have been impacted by UK showrooms closing, car manufacturers are still putting offers together for Q2 and customers can apply for credit.
The Financial Conduct Authority (FCA) has said that it expects motor finance providers to offer “exceptional and immediate support to customers facing payment difficulties” due to COVID-19 coronavirus.
The number of complaints about motor vehicle insurance products fell 13% to 242,041 in the second half of 2019 from 277,363.
Finance houses will soon ramp up help for customers struggling to pay their loans and motor finance contracts during the ongoing coronavirus crisis.
The Financial Conduct Authority (FCA) may allow businesses to defer their subscription fees as they battle to minimise outgoings during the COVID-19 coronavirus crisis, the National Franchised Dealers Association (NFDA) has said.
The Financial Conduct Authority (FCA) has proposed a three-month temporary payment freeze on loan and credit card repayments to help consumers cope with the “unprecedented financial shock” triggered by the COVID-10 coronavirus lockdown.
Lookers has revealed that it will delay the publication of its 2019 annual financial results after finding evidence of potentially fraudulent transactions in one of its operating divisions.
How close is the industry to a fully-functioning online buying process? These keys may help speed it along.
The Financial Conduct Authority (FCA) has banned a number of online adverts issued by Rix Motor Company.
The Financial Conduct Authority (FCA) has fined automotive finance provider Moneybarn £2.77 million for failing to treat "vulnerable" customers fairly when they fell behind with loan repayments while in financial difficulties.
Motor traders have faced a dual challenge in the last year or so, reviewing their affordability assessments to meet new guidance from the FCA at a time of economic uncertainty.
Lookers Group will target “improved operational execution” in 2020 following the appointment of Mark Raban as its new chief executive and Cameron Wade as chief operating officer.
The Financial Conduct Authority (FCA) said, as part of its 2018/2019 Business Plan, it would strive to investigate the effectiveness and impact of its interventions into certain markets and industries.
The FCA replaced its ‘authorised person’ credit compliance system for car dealers with the Senior Managers & Certification Regime (SMCR) on December 9
