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Legal News

Car-finance lenders can appeal landmark ruling on non-disclosure of commission payments

Published on: 11 December 2024
Published by LNB News

LNB News 11/12/2024

Document Information

Issue Date: 11 December 2024

Published Date: 11 December 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

Two car-finance lenders, FirstRand Bank and Close Brothers, have been granted permission from the Supreme Court to appeal a landmark ruling that found that brokers (car dealers) receiving commission from lenders without customers' informed consent was unlawful. The review of the ruling will take place in the first quarter of 2025, the Court said.

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