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.
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 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".
TC Harrison Group is investing in systems and training to help its workforce identify and support vulnerable customers in line with Financial Conduct Authority demands.
Chris Bond, head of motor retail at accountancy and advisory firm BDO, shares his thoughts on HM Revenue and Customs' interest in motor retail employers being compliant with the national minimum wage.
The Financial Conduct Authority wants to reduce the risks of finance promotions on social media. AM examines what it means for motor retailers' marketing.
A workshop owner has been condemned for running an "amateurish, shambolic" vehicle repair garage after an employee was crushed while fixing a Ford Transit.
The Health and Safety Executive has urged motor repair workshops to ensure their processes and practices are fit for purpose as its data shows that 21 workers in the sector have been killed in incidents since 2017.
The Financial Conduct Authority (FCA) has found motor insurers need to improve how they treat vulnerable customers and handle claims, and end paying out low for write-offs
Ivendi is launching a new product range this week designed to act as a “single point solution” to dealer Consumer Duty compliance.
The advertising watchdog has censured Marshall Motor Group with a ruling that could have implications for all car dealers advertising used cars with a price drop.
In this latest '5 Minutes With' interview, I ask Alphera Financial Services director Alex Royall about some of the work UK motor retail is doing ahead of changing FCA regulation, including affordability checking when a consumer wants to buy a car.
The Financial Conduct Authority (FCA) has warned there will be "swift action" for those that ignore its new Consumer Duty standards.
Mike Todd, chief executive of Volkswagen Financial Services UK, shares his thoughts about the Financial Conduct Authority's new Consumer Duty regime which begins on July 31.
An April 30 deadline for motor finance providers to issue product reviews to their retail partners will put car dealers on a “compressed timeline” to deliver compliance with the Financial Conduct Authority’s new Consumer Duty regulations.
