The City regulator has extended the deadline to Dec 4, 2025, for lenders to address rising complaints, now covering car leasing agreements in addition to traditional car finance.
Following a pivotal court ruling, the FCA has expanded the scope of claims for compensation, affecting all loan commissions that were not properly disclosed.
The FCA aims to ensure consumers using similar products receive consistent protection, stating that consumers use leasing similarly to traditional finance options.
The investigation into discretionary commission arrangements may uncover issues from legacy loans made before the 2021 ban, impacting a significant number of agreements.
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