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Court of Appeal ruling on motor finance ‘goes too far’ says FCA

Motor Trader

A court ruling which could leave motorists being owed compensation over car finance commission payments goes too far, the UKs financial watchdog the Financial Conduct Authority (FCA) has told the Supreme Court. The upcoming Supreme Court ruling could trigger an FCA redress scheme for motor finance.

Finance 100
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Supreme Court allows NFDA to intervene in motor finance case, Treasury bounced out

Motor Trader

1407908075 The National Franchised Dealers Association (NFDA) has been given permission to intervene in the motor finance case taking place in the Supreme Court. The Finance and Leasing Association and pro-claimant lobbying group Consumer Voice have also been refused permission according to the Law Gazette.

Finance 97
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Close Brothers makes phased return to writing motor finance

Motor Trader

Close Brothers Motor Finance has begun a phased return to the writing of new UK motor finance business. Following the temporary pause in underwriting new vehicle finance agreements, which was announced on 25 October 2024, CBMF resumed writing new business with selected partners on Saturday 2 November 2024.

Finance 95
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Understanding How The U.S. Treasury Views The Use of AI in Auto Retail & Finance

Dealer World

Here are the central themes and proposed actions outlined in the report: AI in Financial Services: AIs increasing adoption in areas like underwriting, fraud detection, and customer service is modernizing auto finance operations. Facilitate information sharing and develop risk management best practices across the financial sector.

Finance 75
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A Big Win for Car Finance Customers: What Court Ruling Means

Car Examer

Let’s break down what happened and how it might affect car finance customers. If you’ve ever financed a car through a dealership, there’s a chance you may have unknowingly paid more than you should have. But that’s about to change, thanks to a recent court ruling that’s shaking up the car finance industry in the UK.

Finance 59
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Iceberg Finance promotions expand nationwide roles

Canadian Auto Dealer

Iceberg Finance has announced the promotion of Jean-Franois Bdard as Vice President of Business Development for Canada and Roberto Bernard as Vice President of Special Projects (Sales). And in 2022, Iceberg Finance announced that they were fully integrated with Dealertrack.

Finance 52
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Media post: Accelerating Adoption: Cryptocurrency’s Role in Automotive Financing and Payment Systems

Best Selling Cars Blog

Cryptocurrency: Transforming Automotive Finance In the past, automotive financing involved a bank, credit union or any other company that deals with loans for vehicle purchases. Streamlining Payment Systems In addition to financing, cryptocurrency is streamlining payment systems within the automotive industry.

Finance 130