New draft guidance from the Financial Conduct Authority should help dealers in their sales of finance and insurance to vulnerable consumers.
The FCA’s concern is that some lenders’ affordability assessments are not aligned with the latest guidance issued as part of its Policy Statement 18/19.
Car dealers are ‘right to be worried’ about finance income following the FCA credit watchdog's latest motor retail investigation
The FCA feels some lenders are not taking reasonable steps to manage intermediaries’ adherence to the rules in the Consumer Credit sourcebook (CONC).
The value of fines imposed by the Financial Conduct Authority in 2018/19 increased threefold in 2018/19 compared to the prior year.
The Financial Conduct Authority (FCA) recently announced forthcoming changes to what has been a controversial area of consumer credit lending.
Lookers has said that it is “cooperating fully” with the Financial Conduct Authority (FCA) as the regulator announced that it was commencing an investigation into the car retail group’s sales process.
Failing to report early suspicions of fraudulent activity to the finance regulator has left Bank of Scotland with a £45.5 million fine.
The Financial Conduct Authority is freeing consumers from full back-dated interest charges when they partly pay amounts owed under ‘buy now, pay later’ (BNPL) finance deals.
FCA Group has withdrawn its proposal of a “transformational” merger with Renault after representatives from the French government stalled a potential deal.
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (Raphaels) for failures in the management of its outsourcing arrangements.
The Financial Conduct Authority’s findings on commissions, information disclosure and affordability have big implications for the motor retail industry
There needs to be a sweeping change in the role of technology both at the point of sale and online, placing consumers in control of their finance experience and just as importantly to provide lenders with a rigorous record of the customer’s finance buying experience.
The FCA’s inquiry raised serious concerns about car dealers and brokers manipulating finance rates to increase commissions
PPI continued to account for the vast majority of complaints received by the Financial Conduct Authority (FCA) as the overall number of consumers demanding redress declined by 5% in the second half of 2018.
The FCA’s concern was around intermediaries, brokers and dealers not divulging key product features and other regulatory disclosures.
Fiat Chrysler Automobiles has entered into an emissions pooling agreement with Tesla in order to avoid fines for violating new European Union emissions rules.
The Financial Conduct Authorities (FCA) Motor Finance Review has finally arrived. The eagerly awaited and long overdue investigation into auto finance has revealed what many in the industry had predicted.
The FCA’s executive director of supervision for retail and authorisations has warned its focus on affordability, business models and culture will not shift.
Finance companies may be required to fully disclose the commissioned paid to dealers and brokers, following the FCA’s review of motor finance.
