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Financial Conduct Authority responds to UK judgment siding with consumers on motor finance

( October 25, 2024, 12:56 GMT | Official Statement) -- MLex Summary: The UK's Financial Conduct Authority said that it would consider the judgment issued by the Court of Appeal ruling that motor finance brokers can't receive a commission from the lender without obtaining the customer’s consent. The ruling comes as three motor finance cases were merged together. The complaints were against Close Brothers and Firstrand Bank. "We note the Court of Appeal judgment on motor finance commission and are carefully considering its decision," the FCA said.Statement follows....

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