FCA awaits Court of Appeal motor finance decision before making DCA compensation plan

A redress scheme on motor finance for overcharged customers is one of the options being considered by the FCA as itextends the timetableon its review of discretionary commission arrangements (DCAs).

By Neasa MacErlean

The regulator has become bogged down by legal appeals against a January decision from the Financial Ombudsman Service that formed a key part of the FCA's review plans - and also by the complexity of obtaining research information on the use of DCAs.