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Turner Review recommends changes to financial industry
Mar 20 2009The Financial Services Association has published the Turner Review, which looks for financial areas in which action needs to be taken and recommends reforms.
This could be good news for Car Credit customers struggling with bad debt or arrears.
Among the recommendations made by the review are regulating credit rating agencies to limit conflicts of interest and taking action on a national level to ensure that remuneration policies discourage excessive risk-taking.
"Much financial innovation has proved of little value and market discipline of individual bank strategies has often proved ineffective," commented Lord Turner.
"The changes recommended are profound and the banking system of the future will be different from that of the last decade," he added.
Responding to the review, the Council of Mortgage Lenders has said it welcomes the chance to "explore the pros and cons of limitations on products in a rational way", adding that it agrees this needs to be done alongside assessing alternative ways of regulating to ensure that risks are limited.
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Cheap Car Loans and Fleet Sales are Helping the UK’s new Market
Created Dec 30 2011
Although car sales have taken a beating through much of Europe during the last couple of years, the prognosis for the UK car market in 2012 is considerably less dire, according to experts at Pricewaterhouse Coopers (PwC).
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Ford Plans to Double its Production in China
Created Jun 22 2011
Ford’s joint venture in China – Changan Ford Mazda Automobile – plans to soon double its annual production of car engines to 750,000 units.
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Insurance Website Names Most Dangerous Cars
Created Jun 20 2011
The popular insurance website Confused.
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FSA to Improve Complaints Handling Standards
Created Jun 14 2011
The FSA has announced a range of measures aimed at improving complaints handling standards.
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Financial Services Authority Cancels Retails Authorisation
Created Apr 21 2011
As most car finance buyers are probably aware, part of the responsibility of the FSA (Financial Services Authority) is to protect motorists against dangerous financial practices.
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Finance Becoming More Important in Car Purchasing
Created Apr 20 2011
In a recent interview with AM-Online, General Manager at BMW/Mini Financial Services, Joe Pattinson, expressed a number of opinions that are of interest to ordinary car finance buyers.
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Debt Recovery for Lenders Conference in London
Created Apr 6 2011
Those involved in the UK car finance industry will be interested to know that the FLA will be presenting a Debt Recovery for Lenders conference in London on the 18th May 2011.
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Duty Cut not Passed on to Drivers
Created Mar 30 2011
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Motor Industry Reacts to the Budget
Created Mar 29 2011
Reaction from the car finance and fleet industries to Chancellor Osborn´s latest "motorist´s budget" has on the whole been fairly positive.
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Japanese Disaster Hits Toyota Badly
Created Mar 28 2011
The ripple effect of the recent earthquake and subsequent tsunami in Japan is slowly being felt by manufacturers and auto loan buyers all over world.
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