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Appeal in UK car finance case needs speed, financial regulator to tell top judges

By Sofia Gerace ( November 13, 2024, 12:58 GMT | Insight) -- Banks and other motor finance lenders will see the UK financial regulator press the country's highest judges for a quick decision on challenges to a potentially explosive Court of Appeal ruling that lenders can't pay commission to dealers without having customers’ informed consent. The Financial Conduct Authority plans to ask the Supreme Court for haste in deciding on the case, which has thrown the car finance industry into chaos and could spark billions of pounds in compensation claims.Banks and other motor finance lenders will see the UK financial regulator press the country's highest judges for a quick decision on challenges to a potentially explosive ruling last month that barred lenders from paying commission to dealers without having customers’ informed consent....

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