Legal
Supreme Court grants appeal in car finance commission case, expedited hearing set
The Supreme Court has granted permission for two car lenders to appeal a landmark ruling on motor finance commission payments that has raised concerns over a potential £30 billion compensation bill.
Car loan crisis could rival £50bn PPI scandal, FCA chief warns
The financial crisis brewing in the UK’s motor finance sector could rival the infamous £50 billion Payment Protection Insurance (PPI) consumer scandal, the Financial Conduct Authority's (FCA) top legal chief has conceded.
Car loan providers must prioritise clear commission disclosure since court ruling, say experts
Clear, upfront disclosure of commission to ensure informed consent will be critical for providers of motor finance following last week’s shock Court of Appeal decision which saw several major industry names suspend lending in order to take stock of the implications of the ruling.
Executive View: Can dealers cope with a flood of queries on historic car loans?
Steve Salvin, chief executive of Milton Keynes-based tech firm Aiimi, discusses how motor retail companies can ready their data for an influx of Data Subject Access Requests (DSAR) from consumers hoping for a payout from historic car loans.