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.
The Financial Conduct Authority (FCA) has moved to protect those in financial difficulty by requesting unregulated buy-now-pay-later BNPL firms to make changes to potentially unfair and unclear contract terms as new research reveals a significant increase in the use of short term financing.
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".
Gap insurance experts are calling for the Financial Conduct Authority (FCA) to clarify its stance, citing its recent blanket warning as “irresponsible”.
The FCA has given insurers a three-month ultimatum after recent data revealed that guaranteed asset protection (GAP) products could be failing to provide fair value.
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.
Lack of clarity over consumer duty rules creating legacy risk
The Financial Conduct Authority wants to reduce the risks of finance promotions on social media. AM examines what it means for motor retailers' marketing.
Mike Todd, Volkswagen Financial Services UK chief executive, believes the new Consumer Duty regulations will encourage a renewed focus on customers.
Almost three out of four dealers (73%) believe measures to meet the FCA’s Consumer Duty responsibilities will create new opportunities, according to iVendi.
The Financial Conduct Authority (FCA) is proposing new rules to combat non-compliant financial promotions on social media platforms.
The NFDA is urging its motor retailer members to get in touch if they need additional support ahead of the new Consumer Duty regulations that launch on July 31.
Dealers’ awareness of new Consumer Duty regulations has increased from 28% to 91% over the last quarter, according to Close Brothers Motor Finance.
Letting customers self-serve their motor finance needs is proving the most effective route to Consumer Duty compliance, iVendi is reporting.
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
Alphera Financial Services is providing free training videos and documents to help prepare for the FCA’s Consumer Duty regulations on July 31.
Ivendi is launching a new product range this week designed to act as a “single point solution” to dealer Consumer Duty compliance.
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.
Law firm Walker Morris has appointed Russell Kelsall as a partner and head of consumer and motor finance in its regulatory team.
