Navigating the FCA’s Pause on Motor Finance Complaints With the Right Talent
In a recent announcement, the Financial Conduct Authority (FCA) introduced a pivotal pause in the 8-week deadline for motor finance firms to address complaints involving discretionary commission. This strategic move is designed to afford firms the necessary time to comprehensively review and respond to complaints in a consistent and efficient manner. At the heart of […]
Navigating Collections Challenges: Momenta Group’s Expertise in Collections Solutions
In a fast-paced and unpredictable economic landscape, we have seen unprecedented challenges for both businesses and their customers. In the wake of the Covid 19 pandemic, various geopolitical emergencies and a subsequent cost of living crisis, it has never been more important for lenders to ensure they have the right strategy in place to support […]
Annual Complaints Data 2023/24: Key Trends and Insights
The latest Annual Complaints Data from the Financial Ombudsman Service for 2023/24 provides a view into the evolving landscape of consumer grievances within the financial sector. This year, we’ve witnessed a significant rise in complaints, particularly concerning banking and payments, signalling emerging areas of concern and providing a roadmap for improvements. Here’s a closer look […]
Insight on the Proposed Extension of the Complaint Handling Pause for Motor Finance DCAs
The FCA is proposing to extend the current pause on the 8-week deadline for firms to respond to consumer complaints about motor finance involving discretionary commission arrangements (DCAs) until at least December 4, 2025. This decision follows an ongoing review of the historical use of DCAs in the motor finance sector and recent legal developments. […]
Insight on Extending Rules for DCA Complaints in the Motor Finance Industry
The Financial Conduct Authority (FCA) is consulting on extending the temporary complaint handling rules for discretionary commission arrangement (DCA) complaints within the motor finance industry. This extension is necessary due to delays in collecting and reviewing data and the ongoing litigation that affects the sector. The FCA had initially planned to set out the next […]
Motor Finance: Your Key Steps to Operational Readiness
The motor finance sector has been in the regulatory spotlight recently, specifically concerning the potential requirement for remediation and redress of Discretionary Commission Arrangements (DCAs) and the emerging challenge of increased complaints relating to Affordability and Irresponsible lending. Momenta’s experts explore the main challenges and advise on the next steps for firms to improve their […]
Motor Finance: Preparing for the FCA’s Next Steps
On 5 June 2025, the FCA released a statement outlining key considerations for implementing a potential consumer redress scheme related to Discretionary Commission Arrangements (DCAs) in motor finance. This follows the Court of Appeal’s 2024 ruling, which deemed such commissions unlawful without informed customer consent, a decision currently under appeal at the Supreme Court. The […]
Navigating the Motor Finance Regulatory Landscape: How Firms Can Prepare
The FCA’s recent review of motor finance commission arrangements has thrust the industry into uncharted territory. Following the Court of Appeal’s October 2024 ruling that lenders must clearly disclose broker commissions and obtain informed consent, historic practices are under intense scrutiny. Courts are now considering whether to require compensation for customers mis-sold PCP and HP […]
Motor Finance Redress Scheme – What Do We Know Now?
On Sunday 3rd August 2025, the FCA confirmed it would consult on a compensation scheme which seeks to provide redress to consumers who were treated unfairly when taking out motor finance. This announcement followed Friday’s landmark ruling by the Supreme Court on three cases where the Court of Appeal had previously concluded that commission payments […]
Collections and Complaints: Where Regulation Meets Reality
In the face of sustained economic strain, collections and complaints teams are feeling the pressure. With more consumers in financial difficulty and regulatory expectations rising, firms need to re-evaluate how they support customers before, during and after a missed payment. In this post, we take a closer look at the current landscape – and identify […]