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The FCA has written to the CEO’s of regulated firms who offer motor finance highlighting what they consider to be the key risks motor finance providers could pose to their customers and markets in which they operate.

The BVRLA has responded to the Financial Conduct Authority’s consultation which sets outs its plans to update the commission disclosure rules banning discretionary commission arrangements for credit sale products.

Motor finance provides an essential lifeline for millions of working families who rely on having the ability to access affordable finance to get a car or van to help them go about their daily business. The BVRLA has provided advice to help customers demystify the various types of motor finance.

The BVRLA has hosted its last Leasing Broker Committee of 2019 and on the agenda was a presentation from the Financial Conduct Authority (FCA) on commission models.

BVRLA trainer, Chartered accountant and former Finance Director Mark Biggs invites members to join him at the next Finance Essentials for the Automotive Industry course.

The BVRLA has added new dates for two of its flagship training courses due to high demand.

The Financial Ombudsman Service has warned that some businesses may not be doing enough to check that people can afford the finance agreements they are signing up to.

BVRLA members see this review as an opportunity for simplification and enhancement of consumer protection and customer experience.