Legal
Executive View: Trust and transparency are the key drivers sought by the FCA and courts
Eddie Flanagan, partner at law firm Shakespeare Martineau, notes that it while a spotlight remains on the UK's motor finance market due to important legal actions it is critical for lenders to be continuously refining their data and practices.
Executive View: The reasons why dealerships should prioritise complaint handling
Customer-facing businesses are on the frontline of both economic and regulatory change but are automotive retail dealerships tackling the challenges and finding new opportunities, asks Freeths legal expert Richard Coates.
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.