FCA to ban car dealer's discretionary finance commission
The Financial Conduct Authority (FCA) has opened a consultation in a bid to ban car retailers’ discretionary finance commission model – saving UK car buyers an estimated £165 million a year. As previously predicted by industry commentators, the Authority’s review had called for an outright ban on the use of Increasing Difference in Charges (DiC), Reducing DiC and Scaled commission models in a bid to end a situation which can see car dealers offering higher interest rates rewa
