The National Franchised Dealers Association (NFDA) has met the Financial Ombudsman Service (FOS) to focus on motor finance commission and how dealers can handle cases and the paperwork required.
As part of the discussion, the NFDA put forward idea to improving consistency and operational efficiency.
These included the potential development of a standardised template for future data requests, to provide clarity and reduce duplication, and the creation of clear contact channels within businesses.
To support continued progress, the NFDA has agreed next steps with the FOS. This includes gathering key questions from members, which will be shared with the central Ombudsman team and discussed at a follow-up meeting.
Commenting, Sue Robinson, Chief Executive of the NFDA, said:
“By engaging directly with our members and the Financial Ombudsman Service, we are helping to ensure that retailers’ concerns are understood and addressed in a practical and proportionate way.”
The NFDA will continue to engage closely with the FOS, the Financial Conduct Authority (FCA) and lenders as matters develop.
