Auto Trader has made its Deal Builder omnichannel solution available to all FCA authorised used car retailers to trial.
Almost one in 20 motor finance customers have been identified as vulnerable, according to new research by iVendi.
The Financial Conduct Authority is reminding motor finance firms about their requirement to maintain adequate financial resources at all times, in the light of several lenders reserving millions of pounds in case of widespread compensation demands after the review of car loan commissions.
The UK financial watchdog has told several online providers of GAP insurance that they can continue to sell their products until the end of April.
Gaurav Jain, UK commercial director, Get Your Car, Carwow, discusses the opportunities for dealers as car buyers seek more guidance on finance options
The Financial Conduct Authority (FCA) has identified shortcomings in how some motor insurance firms are valuing written-off or stolen vehicles.
Close Brothers has confirmed that it has set aside up to £400 million ahead of the FCA’s regulatory review into the motor finance sector.
The FCA has said it will start the process of reviewing firms’ treatment of vulnerable customers as it set out its plans for the next year.
Any action taken on car loan discretionary commission complaints will be much swifter than that implemented for payment protection insurance (PPI) misselling last decade, according to the chief executive of the Financial Conduct Authority.
If consumers are paying a greater price now than they did before, what harm is the FCA’s intervention actually preventing?
Lloyds Banking Group has allocated £450 million to cover potential expenses related to regulatory investigations into historic motor finance commission deals.
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.
Eight out of ten insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance at the request of the financial watchdog.
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 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.
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 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.
