Taking the lead on motor finance redress

The survey uncovered widespread uncertainty regarding the use of commissions in the motor finance sector, with many customers unsure how commission structures may have impacted them – highlighting significant gaps in consumer understanding.

Only 42% of respondents reported having a clear grasp of recent issues surrounding car finance commissions.

Firms must be ready to act once the FCA outlines the next steps later this year. Until then, financial services leaders should prepare for potential requirements and firm-specific supervisory interventions. Preparing now will result in a competitive advantage once FCA requirements are known.

Download the full survey for a snapshot of customers' thoughts on motor finance and how this has affected their trust in financial services.

Firms must be ready to act once the FCA outlines the next steps later this year. Until then, financial services leaders should prepare for potential requirements and firm-specific supervisory interventions. Preparing now will result in a competitive advantage once FCA requirements are known.

Download the full survey for a snapshot of customers' thoughts on motor finance and how this has affected their trust in financial services.

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