New FCA guidance on motor finance forbearance came into effect on 25 November and the BVRLA has published a short video to help explain the guidance and what it means for members.
The guidance applies in the exceptional circumstances arising out of the Covid-19 pandemic and its impact on the financial situation of consumer motor finance customers. In the ‘Consumer Credit and Coronavirus’ video, the BVRLA’s Director of Fleet Services Amanda Brandon talks to compliance expert Jo Davis from Auxillias.
Amanda said, “The FCA’s latest guidance on forbearance is the most complex yet and has lots of potential implications for anyone offering regulated personal motor finance. We hope this webinar will offer members some timely advice and key tips on how they can stay on top of this fast-moving forbearance environment.”