A year after they published their interim findings in March 2018, we now finally know the outcome of FCA’s review of the motor finance market. Whilst the focus of FCA’s attentions was to an extent telegraphed in their interim report, the final report still makes quite compulsive reading and begs the question – what happens…

A report by the National Audit Office (NAO) has found that the four main regulators – Ofwat, Ofgem, Ofcom and the Financial Conduct Authority (FCA) – understand the significant difficulties facing consumers across utilities, communications and financial services markets, but cannot prove if they are effectively responding to consumer concerns or offering enough protection for…

Cifas, the UK’s leading fraud prevention service with over 450 members, has released new figures showing a marked increase in the number of individuals committing insurance fraud with false claims. Between 2017 and 2018, there has been a nationwide increase of 27% in fraudulent insurance claims. The new figures reveal that Cifas members identified household…

New research from Experian has identified 5.8 million people in the UK who are virtually invisible to the credit economy because there is little or no information available on their financial track record. In the absence of sufficient information to make a decision, these Invisibles can either be excluded from mainstream financial services or be…

The Financial Conduct Authority (FCA) has announced the final rules on the Directory – a new public register that enables consumers, firms and other stakeholders to find information on key individuals working in financial services. Publishing this information on a regular basis will empower customers to make sure they only deal with individuals whom an…

New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 1% by volume and 6% by value in January, compared with the same month in 2018. The POS consumer new car finance market reported new business volumes up by 4%…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business in January was at a similar level to the same month in 2018. Credit card and personal loan new business together fell in January by 3% compared with the same month in 2018, while retail store and online credit new…

Full disclosure of commission paid on motor finance at the point of sale could be imminent following the publication this week of a new FCA review, according to motor finance e-commerce specialist iVendi. James Tew, CEO at iVendi said that the results were harder hitting than many in the industry expected and a clear sign…

Over half (52%) of financial services customers feel that financial services firms treat consumers unfairly, according to new research by Voice of the Customer (VoC) pioneers Maru/edr. The findings are from a new study into customer treatment in the financial services industry, which interviewed 1,000 independent customers who held at least once financial product in…

The Financial Conduct Authority (FCA) is considering changes to the way in which commission works in the motor finance sector after uncovering serious concerns about the way in which lenders are choosing to reward car retailers and other credit brokers. The findings form part of the final report of the FCA’s work on motor finance…

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