Branch2 Intelligence
Motor finance war of words heats up as City watchdog blasts law firm’s motives
Key takeaway
FCA escalates legal battle against Courmacs Legal and Consumer Voice over £9bn motor finance scheme.
- Step 11st-order: FCA escalates legal action to dismiss Courmacs Legal and Consumer Voice challenge against £9bn motor finance scheme.
- Step 22nd-order: If FCA wins, motor finance lenders avoid £9bn liability, preserving current lending capacity and terms.
- Step 33rd-order: UK SMEs that rely on motor finance for vehicle fleets face stable credit availability and costs, avoiding a tightening spiral.
Source: City A.M.
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