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Banks win bulk of UK top court appeal over car finance commissions

( August 1, 2025, 16:21 GMT | Official Statement) -- MLex Summary: The UK's highest court largely sided with banks and finance companies today as it ruled that commissions they paid to dealers without the consumers’ informed consent are lawful. The decision came after South African lender FirstRand Bank and UK merchant bank Close Brothers had brought cases to the Supreme Court after the Court of Appeal last year found that the commissions should have been disclosed to the customers, effectively introducing a fiduciary duty for dealers towards consumers. The issue was not covered in financial regulation.Judgment is attached....

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