Credit, Collections & Insolvency News
The Finance & Leasing Association (FLA) has submitted its response to the Financial Conduct Authority’s (FCA) consultation on a proposed Section 404 Motor Finance Consumer Redress Scheme. While lenders fully support a robust and credible redress programme for customers who have suffered loss, the FLA warns that the scheme as drafted cannot deliver the fairness,…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in October 2025 by 6% compared with the same month in 2024. In the ten months to October 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in October 2025 by 3% compared with the same month in 2024. The corresponding value of new business was 8% higher over the same period. In the ten months to October 2025, new business volumes grew…
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The Financial Conduct Authority (FCA) has announced that it will lift the pause on the handling of motor finance complaints on 31st May 2026, rather than 31st July 2026 as originally consulted on, to ensure consumers receive fair and timely outcomes. The regulator says that this timeframe enables the regulator to finalise and begin implementing…
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Paying for insurance with credit is continuing to gain popularity with customers valuing the ability to pay insurance bills monthly, according to new research by Premium Credit. Premium Credit’s Insurance Index found 28% of adults say they are more accepting of using credit to pay for insurance cover than they were a year ago confirming…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in September 2025 by 5% compared with the same month in 2024. The corresponding value of new business was 9% higher over the same period. In the nine months to September 2025, new business volumes grew…
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The Financial Conduct Authority has provided a further update on its motor finance redress consultation, raising feedback that analysis of the extensive market-wide data is taking firms a while and therefore extending the consultation deadline until 12th December. Final rules are now expected to be published in either February or March 2026. Commenting on the…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in August 2025 by 5% compared with the same month in 2024. The corresponding value of new business was 1% lower over the same period. In the eight months to August 2025, new business volumes held…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in August 2025 by 2% compared with the same month in 2024. In the eight months to August 2025, new business in this market was 4% higher than in the same period in 2024. The credit card and…
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The Financial Conduct Authority (FCA) has this afternoon published its consultation on the motor finance compensation scheme. It estimates that, on average, customers due compensation will be eligible for £700 payouts on an expected 14 million unfair motor finance agreements, which could start next year, under an industry-wide compensation scheme proposed. Based on the number of…
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The Financial Conduct Authority (FCA), Solicitors Regulation Authority (SRA), Information Commissioner’s Office (ICO) and the Advertising Standards Authority (ASA) are joining together to tackle misleading advertising and inadequate information provided by some claims management companies (CMCs) and law firms working on motor finance claims, and the risk that excessive fees are charged to clients. …
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in July 2025 by 1% compared with the same month in 2024. The corresponding value of new business grew by 4% over the same period. In the seven months to July 2025, new business volumes were…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in July 2025 by 4% compared with the same month in 2024. In the seven months to July 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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