Motor Finance Supreme Court Ruling Resets Rules on Undisclosed Commissions

Motor Finance Supreme Court Ruling Resets Rules on Undisclosed Commissions

A landmark Supreme Court judgment has reset the rules on undisclosed commissions in the motor finance industry.
The ruling, which addressed three conjoined appeals, comes as the Financial Conduct Authority (FCA) is considering mandating a consumer redress scheme for the industry.
The decision is expected to provide greater clarity and legal precedent for how these cases will be handled going forward.
Motor finance firms are now preparing for the possibility of a redress scheme, with the FCA having previously indicated it would confirm its intentions within six weeks of the Supreme Court's ruling.
This could lead to a wave of compensation claims from consumers who were not informed about commissions paid to dealers.

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