For the transactions that meet that criteria, lenders calculate the consumer’s compensation in one of the several ways. For most cases, the compensation will be based on an average of the amount overpaid and the commission paid, plus base rate interest plus 1%. However, in the rarer but most extreme cases, such as the one that triggered the Johnson v FirstRand Bank Ltd case, the lender must pay the consumer the commission plus interest.Consumers will be eligible if they took out a regulated motor finance ag ...

The FCA’s proposed motor finance redress scheme has landed, and with it, a hefty price tag. The regulator estimates £8.2 billion in compensation for customers, plus an additional £2.8 billion in implementation costs, bringing the total industry bill to around £11 billion. The Finance & Leasing Association (FLA) isn’t convinced. Chief executive Shanika Amarasekara said the figures “remain too high” with the FLA's Adrian Dally also calling for transparency on how the FCA arrived at them. The consultation do ...

The UK's Financial Conduct Authority (FCA) has put forward a proposal for a compensation scheme under which payouts related to an anticipated 14 million unfair motor finance agreements may commence next year. This scheme, if approved, is set to disburse an estimated £8.2bn ($11bn) to consumers who were disadvantaged by nondisclosure of critical information in their finance agreements. The reported lack of transparency has prompted FCA to suggest average payouts of about £700 per affected agreement. Rese ...

行业监管动态 - 英国金融行为监管局发布了一份长达360页的关于汽车金融行业赔偿方案的咨询文件 [1][2] - 该方案旨在为2007年至2024年间因关联佣金协议而遭受不公平收费的消费者提供补偿 [2] - 监管机构认为集中化的赔偿方案是最高效和公平的途径 可避免成本更高、结果不一致的个体投诉流程 [4] 潜在财务影响 - 英国金融行为监管局估计约有1420万份信贷协议（占该时期总信贷协议的44%）可能存在佣金披露缺陷 [2] - 预计赔偿总额将达到82亿英镑 行业总成本（包括实施成本）预计约为110亿英镑 [2][6] - 基于85%的消费者参与率假设 每份协议的平均赔偿金额为700英镑 利息按英国央行基准利率加1%计算 [6] 方案实施与责任 - 贷款机构（而非经纪商）将负责管理赔偿计划 包括识别受影响客户、计算补偿金额和处理付款 [5] - 监管机构将进行监督 以确保结果“及时且公平” [5] - 该方案若实施 将成为自支付保护保险赔偿计划以来最广泛的协调补偿行动 [3] 法律背景与调查发现 - 2024年12月高等法院和2025年8月最高法院的两项里程碑式裁决 为贷款机构的披露义务提供了法律确定性 [7] - 英国金融行为监管局对3200万份汽车金融协议的调查发现 在披露贷款机构与经纪商之间的佣金安排方面存在“普遍性失责” [8] - 这些失责行为导致消费者无法做出明智的借贷决策 并常常导致实际利率更高 [8]

Vehicle Asset Solutions (VAS) and jaam automation have introduced an AI-powered Attestation and Audit Portal, aimed at enhancing oversight within the UK motor finance industry. Designed to facilitate compliance and reduce administrative tasks, the portal is now accessible to finance providers throughout the UK. It utilises AI to offer a standardised oversight process, assisting funders in maintaining “consistent, scalable and regulator-aligned” reviews. The platform also aims to reduce the repetitive ...