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Monday, 31 July 2017

FCA on motor finance market

The Financial Conduct Authority tells us: 'We are looking at the motor finance market to ensure that it works well and to assess whether consumers are at risk of harm.' It goes on:
'Consumers’ use of motor finance has grown rapidly in recent years, with many credit products now available.
'As we set out in our Business Plan 2017–18, we are looking at this market to develop our understanding of these products and how they are sold, and to assess whether the products cause harm to consumers and if the market is functioning as well as it could.'
Details of the Authority's work, which naturally focuses on PCPs, are on its webiste (link in the first line above). It promises to publish an update in Q1 2018.

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