Motor Finance Ruling – May 2025 Update: Is PPI 2.0 incoming?
This is a follow-up to Woodhurst’s November 2024 thought leadership: Court of appeal announcement shakes up the specialist lender market. Following a three-day hearing in April, the Supreme Court is currently considering whether to uphold the Court of Appeal’s ruling that it is unlawful for dealers acting as credit brokers to receive commission from lenders […]
Court of appeal announcement shakes up the specialist lender market
Last week, the Court of Appeal made a ruling mandating that brokers must fully disclose and obtain explicit consent from customers regarding any commissions received from lenders. This decision has significant implications not only for firms operating in the motor finance market, but also for those in other areas of asset finance. Discretionary commission arrangements […]