Queen of Bargains
Dec 23, 2019
3 minutes
HAVE YOU HEARD?
The Financial Conduct Authority has announced plans to ban the way some car retailers and other brokers in the motor finance sector receive commission, in a move that would save motorists an estimated £165 million a year.
The regulator found that currently, some car finance brokers receive commission that is linked to the interest rate that customers pay.
Brokers can set that rate – and the FCA found that ‘the widespread use of this type of commission creates an
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