Two apparently diametrically opposed views of the likely extent of redress over car finance commissions were given. On his ITV Show, Money Show Live, Martin Lewis suggested that the FCA had indicated that if there is to be redress, finance companies will process it automatically. Just hours earlier, at a meeting of the Treasury Select Committee, Lloyds Banking Group’s CEO Charlie Nunn stated that there was no evidence of harm.

Yesterday the Government announced the next step in the torturously slow road to regulation of Buy Now Pay Later (BNPL), being the publication of draft legislation to bring BNPL under FCA regulation. City Minister Emma Reynolds said the new rules were designed to tackle a sense of “wild west” in the BNPL space. In this article, I suggest that by the time the Sheriff eventually arrives in town, the market could have already resolved the problem.

What to expect from the Supreme Court's motor finance commissions case and how finance companies can prepare for FCA redress guidance

he underlying issues in the motor finance market are economic, but the mechanisms being used to attempt to resolve them are legal.

It may initially seem counter-logical but in this article, I set out why taking around 25,000 'secondary' credit brokers outside of FCA regu

A commentary on the Court of Appeal judgement on motor finance

Today’s FCA Final Notice to Volkswagen Financial Services (UK) Limited leaves little doubt that VWFS made some major errors in its collectio

Understanding the FCA's update on its work on the motor finance market in relation to commission complaints

©House of Commons Fed up with the negative coverage of the political parties battling it out for seats in the House of Commons? It’s...

In May Peloton launched a new rental scheme in the UK. Possibly more out of necessity than choice, it is a bold and innovative leasing model

This article was published by Asset Finance International on 19 February 2024. For comments from readers please see LinkedIn here....

In various previous articles, I have covered why Difference in Charges (DiC) commissions should, in general, be in customers’ interests....

Many business finance firms, probably the majority, have already left the regulated market (loans to unincorporated businesses that do...

In case you missed it over the August holidays, the first significant legal case against motor finance providers over commissions has...

It’s been a significant week for regulated consumer and business lending regulation in the UK, with three key developments: The Times...

This week’s ‘Response to consultation’ paper from HM Treasury sets out the Government’s plans for regulation of Buy Now Pay Later finance....

With last week’s news that Klarna is cutting 10% of its global workforce, and valuations of listed fintech Buy Now Pay Later companies...

The Times reported on Monday that the Financial Conduct Authority is looking at ways of encouraging firms to lend to the most vulnerable...

In February, the Financial Conduct Authority’s Woolard Review identified an ‘urgent need to regulate all’ Buy Now Pay Later (BNPL)...

In its letter to Provident last week concerning the Scheme of Arrangement by which customers of the Group’s home credit and online loans...