A Guide to Consumer Duty Board Report
In recent years, regulatory requirements for businesses, particularly in customer service and transparency, have become increasingly stringent. The Consumer Duty Board Report introduced by the FCA is one such initiative aimed at ensuring fair treatment of consumers across various sectors, including automotive sales. What is the Consumer Duty Board Report? The FCA’s Consumer Duty aims […]
What is a Credit Broker?
Have you ever felt overwhelmed by the sheer number of lenders and loan options out there? That’s where a credit broker comes in handy. Think of them as your financial matchmaker, connecting you with the right lenders to suit your needs. Let’s take at look at what a credit broker does and how they can […]
Navigating FCA Authorisation for Car Finance
Staying on the right side of the Financial Conduct Authority (FCA) isn’t just about ticking boxes — it’s about building trust and ensuring your business thrives in the competitive world of automotive finance. Today, we’re breaking down the essential FCA authorisations you’ll need to keep your dealership running smoothly and legally. Overview of FCA Authorisations […]
Navigating Regulatory Changes in Motor Finance
The motor finance sector is subject to ongoing regulatory changes that aim to increase transparency, protect consumers, and ensure fair practices across the industry. Understanding these changes is crucial for all stakeholders, including lenders, brokers, and dealers, to maintain compliance and foster trust with customers. Summary of Recent Regulatory Changes Recent years have seen a […]
Navigating Compliance in Motor Finance
The Role of Dealers in Compliance: Navigating New Responsibilities in Motor Finance. As the regulatory environment of motor finance tightens, the role of dealers in ensuring compliance has never been more crucial. Recent changes, particularly the implementation of Consumer Duty, have placed new responsibilities on the shoulders of motor vehicle dealers. Understanding these responsibilities and […]