Firms representing motor finance customers ‘must act in clients’ best interests’

Firms representing motor finance customers ‘must act in clients’ best interests’

Regulators have said claims managers and law firms involved in motor finance commission claims must not charge unfair fees for ending an agreement.

Car finance scandal warning could see drivers lose 'significant chunk of any money they are owed'

The UK's financial regulator has issued a stern warning to companies representing motor finance commission claims amid fears drivers could lose money

FCA Issues Warning on Motor Finance Commission Claims

The latest from the FCA for you; The Financial Conduct Authority (FCA) and Solicitors Regulation Authority (SRA) have recently issued a joint warning to claims management companies (CMCs) and law firms involved in motor finance commission claims to make sure consumers don’t have [...] The post FCA Issues Warning on Motor Finance Commission Claims appeared first on .

Regulators issue joint warning to firms representing motor finance commission claims - Credit Connect

The Financial Conduct Authority (FCA) and the Solicitors Regulation Authority (SRA) have warned claims management companies (CMCs) and law firms over excessive fees in motor finance commission claims. The regulators emphasised that firms must ensure consumers do not have multiple representatives and must charge reasonable termination fees.The FCA has also written to lenders setting out the potential actions they should take to address this issue…

FCA and SRA joint message to professional representatives on motor finance commission claims

On 4 February 2025, the Financial Conduct Authority (FCA) and Solicitors Regulation Authority issued a joint message warning claims management companies and law firms (representatives) involved in motor finance claims to make sure clients don’t have multiple representatives for the same claim and are not charged excessive termination fees. The FCA has also issued a Dear CEO letter to motor finance lenders setting out the steps they should take t…