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The Financial Ombudsman Service (FOS) has launched a short consultation seeking views on the interest rate that it applies to compensation awarded to consumers.

The Supreme Court’s judgment on April’s motor finance appeal is expected in the coming weeks, and the Financial Conduct Authority (FCA) has now set out its key considerations for a potential redress scheme in response.

As the regulatory landscape continues to evolve, it’s more important than ever for members to regularly review their processes to ensure compliance and protect customer trust. Through the BVRLA’s ongoing inspection programme, it has seen some recurring themes that serve as useful reminders for everyone.

Members are encouraged to save the date of Thursday 9 October for the association’s next Leasing Broker Conference.

HM Treasury yesterday (19 May) published a consultation about reforming the Consumer Credit Act (CCA).

HM Revenue & Customs (HMRC) has updated its guidance around the transition rules for double-cab pickups, relating to Benefit-in-Kind (BiK) changes that came into force in April this year, following input from the BVRLA.

The Financial Conduct Authority (FCA) has outlined its plans for changes to consumer credit regulatory returns. The publication of Policy Statement PS25/3 follows last year’s CP24/19 consultation. The BVRLA submitted a response on behalf of members, drawing on feedback from its committees and working groups.

Charlotte Matthews, Consumer Policy Manager at the Financial Conduct Authority (FCA), will present insights from the FCA’s Vulnerability Review as part of the BVRLA’s next Compliance Forum. The half-day event will take place on Wednesday 28 May at Shoosmiths London, bringing together compliance professionals to deep dive into current regulatory challenges.

The leasing broker sector is seeking to demonstrate its resilience and flexibility this year, after the BVRLA broker fleet contracted in 2024. Accounting for over 350,000 vehicles on UK roads, the broker fleet shrunk by 8.9% last year as customer confidence waned due to political and economic uncertainty.

How to handle customer complaints relating to the quality of goods will be the focus of an upcoming workshop, hosted by the Financial Ombudsman Service (FOS). BVRLA members have been invited to join the session which is taking place online from 09:30-12:30 on Tuesday 13 May.

The BVRLA's Leasing Broker Survey report for the year ending December 2024.