The FCA’s 360-page consultation on a motor finance commission scheme, published last week, is very clearly designed to protect the regulator from a Judicial Review.But my reading of the proposals is that the FCA would have failed to follow the right procedures, and be exposed to a JR risk, if it were to finalise the scheme based on its current proposals, because there is a key missing link in its analysis: the lack of a basis for rebuttal for cases where the customer paid a c

How the FCA's motor finance commission redress scheme appears to be firming up, based on the FCA's evidence to the House of Commmons Treasury Committee.

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.

A commentary on the Court of Appeal judgement on motor finance

It’s no surprise that some unwelcome finance practices take place in some car dealerships. Seven years after taking over consumer...