FCA launches motor finance web page
The FCA’s new motor finance web page mentions four specific areas of work that the regulator will focus on in the car finance sector:
- Is responsible lending being undertaken and are appropriate affordability assessments carried out?
- Are commission arrangements leading to conflicts of interest?
- Is the information provided to consumers clear and transparent?
- Are firms managing any risk associated with the fall of residual values and pricing their products appropriately?
An update on the review will be published in Q1 2018. To view the web page please click here.