FCA announcement on commission is good news for the industry

15 October 2019

FCA announcement on commission is good news for the industry 

Commenting on the Financial Conduct Authority's publication today of a consultation on discretionary commission models, Adrian Dally, Head of Motor Finance at the FLA, said:

“Today’s announcement is good news for the industry and consumers, as it delivers clear rules and a consistent approach to commissions.  Many lenders have already moved to the commission models that the FCA is proposing.”

Note to editors:

1. In 2018, FLA members provided £136 billion of new finance to UK businesses and households. £103 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2018. £46 billion of it supported the purchase of new and used cars, including over 91% of private new car registrations.

2. For media enquiries, please contact the FLA press office on 020 7420 9656.

 

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