FCA Changes to Mis-Sold Car Finance Claim Deadlines: What You Need to Know
If you have taken out car finance in the UK and have concerns about how your agreement was arranged, it is important to be aware of recent updates from the Financial Conduct Authority (FCA). The FCA has amended the timetable for how and when lenders must respond to certain car finance complaints. These changes may affect the timing of complaint responses, but they do not determine complaint outcomes or guarantee compensation.
FCA Car Finance Redress Scheme: What It Means for Drivers Affected by Mis-Sold PCP and HP Agreements
The Financial Conduct Authority (FCA) is developing plans for a large-scale car finance redress scheme, designed to address historic concerns around how some Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements were sold. This follows an in-depth review into historic discretionary commission arrangements (DCAs), a practice the FCA believes may have created unfair outcomes for consumers.