Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly influencing its decision to dive deeper into this issue.
Historical arrangements used by motor finance firms to pay commission to car dealers and brokers are being reviewed by the Financial Conduct Authority in case consumers have not been treated fairly.
The Financial Conduct Authority expects to publish an update on its examination of motor finance next month.
Oodle Finance and Carsnip have teamed up to form a new partnership which guarantees car dealers commission payments from sales made via the online retail platform.
The Employment Tribunal has ruled that UK law can be rewritten to reflect commission in holiday pay - but has left car dealers with unresolved issues.
