15 July 2020
Commenting on the FCA’s statement today which confirms further support for motor finance customers, Adrian Dally, Head of Motor Finance at the FLA said:
“We welcome the fact that the FCA has given greater prominence and emphasis to the message that those customers who can resume full or partial payments should do so.
“This is particularly important to prevent customers accruing unsustainable levels of debt, but also to allow further support to be given to those most in need.”
Notes to editors
- In 2019, FLA members provided £140.3 billion of new finance to UK businesses and households. £104.7 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2019. £35.7 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2019.
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