FCA Challenges Court of Appeal Ruling in Ongoing Car Finance Dispute
2025-04-01
Car Dealer Magazine
The Financial Conduct Authority (FCA) has expressed concerns that a landmark Court of Appeal ruling against Close Brothers and First Rand Bank 'goes too far', sparking a significant debate in the car finance industry. As the hearing gets underway, the FCA is arguing that the ruling has far-reaching implications for lenders and consumers alike. With the car finance market under scrutiny, the FCA is pushing for a more balanced approach to regulation, citing concerns over consumer protection and fair lending practices. Key issues include transparency, affordability, and credit checks.
