View this consultation in the tracker table
We are consulting on our proposal to make further temporary changes to how firms handle motor finance complaints where they involve a commission arrangement.
Why we are consulting
Earlier this year, we introduced new rules for handling motor finance complaints where there was a discretionary commission arrangement (DCA) between the lender and the broker of the loan. The new rules extended the time motor finance firms had to respond to these complaints.
Following a recent judgment by the Court of Appeal on motor finance commission, we are consulting on similar rules for complaints about motor finance agreements where there was a commission arrangement other than a DCA.
Who this is for
Our proposed rules will apply to:
-
Consumers who have taken out motor finance agreements involving commission arrangements.
-
Motor finance providers.
-
Motor finance credit brokers, including motor dealers.
-
Professional representatives bringin