UK car dealers have recorded an 11% reduction in guaranteed asset protection (GAP) insurance sales this September.
The Financial Conduct Authority is considering a deadline for claims over mis-sold payment protection insurance (PPI).
Changes to rules governing the sale of GAP insurance introduced on September 1 have already influenced consumer behaviour.
Online motor finance broker Carfinance247 has been authorised by the Financial Conduct Authority (FCA) under its new regulatory scheme.
The first motor retailers received ‘landing slots’ for FCA credit authorisation in January of this year. Eight months on, dealers seem unfazed by the changes
BMW Group has launched a new shortfall insurance product for BMW, Mini, BMW Motorrad retailers and Alphera partners.
Confidence levels amongst car buyers is “buoyant” with customers replacing financed vehicles more often - and they are willing to pay more each month.
Dealers are being reminded of new regulations on how guaranteed asset protection (GAP) insurance is sold to consumers is due to come into force on September 1.
The Financial Conduct Authority has begun a thematic review of staff remuneration and incentives at firms offering consumer finance, such as car dealers.
Automotive Compliance will be holding free Gap Rule Change Roadshows for retail motor dealers to cover the forthcoming regulation change in September
The Financial Conduct Authority (FCA) is proposing that automotive retailers must show a claims ratio on all general insurance add-on sales as part of new measures it is looking to introduce.
The Financial Conduct Authority has begun a probe into Quindell, the insurance claims processing and connected car telematics provider.
Car dealers selling GAP insurance have until September 1 to ensure new add-on sales rules are applied.
The Financial Conduct Authority (FCA) has fined Lloyds Banking Group £117m for failing to treat its customers fairly when handling Payment Protection Insurance (PPI) complaints.
AutoProtect is encouraging car dealers to take a positive approach toward added value products such as MBI and RTI insurance, alongside FCA requirements.
The Financial Conduct Authority is due to announce its view on how complaints about mis-sold loan insurance are being handled at the end of the summer.
A firm has been fined £159,300 by the Financial Conduct Authority for failures relating to its sale of commercial vehicle add-on insurance products.
The exit of the Chrysler brand from the UK will be managed steadily, now that holders of the franchise have received two years notice of contract termination.
As used car finance grows in importance, independent dealers face greater demands to comply with the credit watchdog.
The practice of requiring consumers to opt-out of purchasing add-on products is to be outlawed by the Financial Conduct Authority.
