Barclays has become the first motor finance lender to launch a legal challenge against a regulatory ruling regarding DCA payments, with the news the bank is to apply for a judicial review of one of the FOS decisions which led to the current FCA motor finance review.
A Barclays spokesperson said: “We do not agree with the Financial Ombudsman Service’s decision in this case and are therefore challenging it. This challenge relates to a single, specific case and we continue to support the Financial Conduct Authority’s review into historic motor financing arrangements. Due to the ongoing nature of this case, we cannot share anything further at this time.”
Comments