The Financial Ombudsman Service (FOS) has confirmed plans to revise the interest rate applied to some of the awards it directs financial firms to pay.
More than 23 million people believe they could be owed compensation if the way car loans were sold is ruled to be unlawful.
The UK's motor industry is awaiting the outcome this month of April's Supreme Court case concerning car loans commission and dealers' responsibility to customers, but firms have been urged to prepare.
Tech giant NTT Data has launched its Digital Automated Remediation solution to help banks and lenders efficiently process large volumes of consumer redress claims.
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.
Rowes Garage fined over £200k after staff diagnosed with Hand Arm Vibration Syndrome from overuse of tools.
Regulatory investigations and authorisations expert Andy Smith has joined the team at Auxillias, the specialist legal and compliance firm.
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.
Eddie Flanagan, partner at law firm Shakespeare Martineau, notes that it while a spotlight remains on the UK's motor finance market due to important legal actions it is critical for lenders to be continuously refining their data and practices.
The FCA ramped up its crackdown on misleading financial promotions in 2024, forcing nearly 20,000 ads to be withdrawn or amended - almost double the 2023 figure.
Customer-facing businesses are on the frontline of both economic and regulatory change but are automotive retail dealerships tackling the challenges and finding new opportunities, asks Freeths legal expert Richard Coates.
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 motor retail industry is being urged to have its say on a proposal from the Financial Conduct Authority to let dealerships and finance providers delay their responses to consumer complaints about motor finance commission.
Clear, upfront disclosure of commission to ensure informed consent will be critical for providers of motor finance following last week’s shock Court of Appeal decision which saw several major industry names suspend lending in order to take stock of the implications of the ruling.
Cybercrime is an ever-evolving threat for every business, and the automotive industry is not immune, according to Gary Higham, Zuto's chief technology officer.
Robin Brundle's Recyclus Group is the UK’s first industrial-scale recycler of lithium-ion batteries, dedicated to developing a stable supply chain for battery metals.
The Financial Conduct Authority (FCA) has fined TSB Bank £10.9 million for failing to ensure fair treatment of customers who were in arrears.
Dealerships risk a halt to their car loans provision in 2025 if they've not put staff through the Specialist Automotive Finance accreditation programme, warns Lisa Watson, sales director at Close Brothers Motor Finance.
