Tag: Redress
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FLA Addresses FCA’s Part 404 Motor Finance Redress Initiative
The Finance & Leasing Affiliation (FLA) has responded to the UK Monetary Conduct Authority’s (FCA) session on the Part 404 motor finance redress scheme. Introduced in October, the FCA’s proposal would permit for compensation funds associated to an estimated 14 million motor finance agreements recognized as unfair. These funds may start as quickly as subsequent…
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Motor Finance Redress: Future Instructions and Subsequent Steps
The author is a danger and regulation skilled at PA Consulting Few points have shaken the banking sector like motor finance this 12 months, and the impression will stretch effectively into 2026. The dispute triggered intense scrutiny of fee fashions, with lenders in a holding sample for half of 2025. But the saga is much…
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UK Automotive Finance Redress Plan Threatens 2026 Payout, Sources Warn
FCA says it’s partaking with lenders, important to resolve the scandal FCA session closes on December 12 Two sources estimate compensation price could possibly be nearer to 18-20 billion kilos LONDON, Dec 12 (Reuters) – Compensating British shoppers for mis-sold automobile loans may price billions of kilos greater than regulators have estimated, business sources say,…