FLA response to FCA commission announcement

11 January 2024

In response to the Financial Conduct Authority announcement of a 37 week pause on the handling of discretionary commission complaints in the motor finance sector, Stephen Haddrill, Director General of the Finance & Leasing Association said: 

“We welcome today’s announcement as the pause will ultimately provide certainty for firms and customers after a period where speculative and unfounded complaints issued by Claims Management Companies have congested what should be a smooth, prompt and clear process. 

“We will work with the FCA over the coming months to resolve this issue.”


Notes to Editors 

  1. In 2022, members of the Finance & Leasing Association provided £148 billion of new finance to UK businesses, households and the public sector.  
  2. Of this total, £55 billion was provided by non-bank lenders. £34 billion was provided in the form of asset finance to businesses - £22 billion of which went to SMEs to fund new equipment, plant and machinery, or purchased software. £115 billion was provided in the form of consumer credit, which includes £50 billion of motor finance supporting the purchase of 84% of all private new car registrations.
  3. For media enquiries, please contact the FLA press office on 020 7420 9656.




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