Motor Vehicles: Credit — Written Question

Question

Dave Doogan

Scottish National Party — Angus and Perthshire Glens

To ask the Chancellor of the Exchequer, what discussions she has had with the Financial Conduct Authority regarding its proposal to set compensatory interest for motor finance redress at the Bank of England base rate plus one per cent, in the context cour

Answer

Lucy Rigby

The Government wants to see this issue resolved in an efficient and orderly way that provides certainty for consumers and firms. The Financial Conduct Authority (FCA), as the independent regulator, has consulted on proposals for a motor finance consumer r...

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