The FCA’s consultation paper on a motor finance consumer redress scheme (the Scheme) has now been published in CP 25/27. The FCA’s analysis suggests that the motor finance industry is set to provide over £8bn in redress, but is also likely to spend almost £3bn to implement the Scheme; confirming that – as
New briefing note- Supreme Court Judgment in Hopcraft appeals: Defining the Legal Boundaries of Broker-Lender Relationships in Motor Finance
On 1 August 2025, the Supreme Court handed down its much-anticipated judgment in the Hopcraft case.
We have published a new briefing note which looks at this judgment, the implications on the motor finance sector, as well as the next steps for firms and the responses of the government and the Financial Conduct Authority.
Hopcraft: FCA to consult on a compensation scheme for motor finance customers
Following the Supreme Court’s judgment in Hopcraft the FCA issued a statement, on 3 August 2025, in which it confirms that it will consult on an industry-wide redress scheme to compensate motor finance customers who were treated unfairly.
The FCA will issue its consultation on the redress scheme by early October and for it
Supreme Court publishes its judgment in the Hopcraft case
Today marks a significant milestone for the motor finance sector as the Supreme Court has handed down its much-anticipated judgment in the Hopcraft case.
In a landmark decision, the Supreme Court has found that fiduciary duties are not to be found where the intermediary has an independent commercial interest. Whilst this decision will come as
FCA CP25/23 ‘Deferred Payment Credit (unregulated Buy Now Pay Later): Proposed approach to regulation’
On 18 July 2025 the Financial Conduct Authority (FCA) published Consultation Paper CP25/23: Deferred Payment Credit (unregulated Buy Now Pay Later): Proposed approach to regulation (CP25/23).
Background
On 14 July 2025, the Government legislated to bring Deferred Payment Credit (DPC) lending under FCA regulation. DPC is a relatively new
CCA reform briefing note
On 19 May 2025, HM Treasury issued a consultation on the first phase of its plans to update the Consumer Credit Act 1974.
We have published a new briefing note which looks at this consultation, its impact on firms and the proposed timeline for implementation.
HMT update on domestic premises suppliers and the new BNPL regime
On 16 June 2025, HM Treasury (HMT) issued an update on domestic premises suppliers and buy-now, pay-later (BNPL).
Background
In its consultation on the BNPL regime HMT proposed that domestic premises suppliers – businesses who sell, offer to sell or agree to sell goods or offer to supply or contract to
Consumer Support Outcome: good practices and areas for improvement
On 7 March 2025, the Financial Conduct Authority (FCA) published a new web page which sets out the findings from its review of firms’ approaches to the consumer support outcome of the Consumer Duty. The examples of good practices and areas of improvement are intended to help firms understand the FCA’s expectations.
In
FCA taking steps to improve access and flexibility for mortgage borrowers
On 7 March 2025, the Financial Conduct Authority (FCA) published a new webpage where it outlines the flexibility for firms in the interest rate ‘stress test’ rule and considers the effect of future rate rises on mortgage affordability.
As interest rates fall, the current market approach to interest rate stress testing may be
Delivering good outcomes for customers in vulnerable circumstances – good practice and areas for improvement
On 7 March 2025, the Financial Conduct Authority (FCA) published its findings following a multi-firm review of firms’ treatment of customers in vulnerable circumstances. The FCA has also published a review of good and poor practice examples to further help firms provide the right care consistent with the Consumer Duty.
Key findings
The