The FOS has published its finalised Plans and Budget for the next phase of its transformation. It expects to receive a greater number of complaints in the coming year, and anticipates 210,000 complaints in its caseload...
Category - Asset & Motor Finance
PRA’s observations post-administration of the Arena Holdings Group of companies
Following the administration of Arena Holdings Group of companies, the PRA asked banks to provide details of lessons learnt from that event. The PRA has conducted a cross-firm review of banks’ lessons learnt and...
FOS publishes latest complaints data
FOS has published its latest quarterly data on complaints in relation to financial products. The data covers the period of April to June 2022, and can be accessed in full as a spreadsheet. Over the period, the average...
Coronavirus: Draft relief for Motor Finance Customers
The FCA published draft relief measures for customers with motor finance agreements today. It is looking for feedback on the measures to be sent to FCAconsumercredit@fca.org.uk by 5pm on Monday 20 April. Who does the...
FCA consults on motor finance commission bans
FCA is consulting on changes to its rules that would ban the way in which car retailers and other motor finance brokers receive commission. It is concerned at practices that link commission to the interest rate...
FCA writes to P2P platforms on wind-down plans
FCA has written a Dear CEO letter to loan-based P2P crowdfunding platforms asking them to review their wind-down arrangements. It has recently carried out a sampling exercise which it says strongly suggests that some...