News

Taskforce already taking action on motor finance claims

22 April 2026

We are part of a new taskforce that will tackle poor handling of motor finance claims by some law firms, as well as claims management companies (CMCs).

We have joined forces with the Financial Conduct Authority (FCA), Information Commissioner's Office (ICO) and Advertising Standards Authority (ASA) to step up efforts to share intelligence and continue to take co-ordinated and targeted actions using the full extent of our powers to mitigate harm to consumers. The taskforce will take swift action to tackle issues with unsolicited and misleading advertising, meritless claims, multiple representation, and unfair exit fees.

Deb Jones, Executive Director of Transformation and our taskforce lead, said: 'We want consumers to have confidence in the system. The taskforce is a great example of how we as regulators can use our collective expertise and powers to not only take action, but also to improve consumers' awareness of the standards they can expect from law firms and CMCs.'

You can read more on the taskforce. The FCA has already taken action against one CMC for misleading advertising.

The announcement came as the FCA set out its final compensation scheme for motor finance customers.

Finally, we have published what we expect from the profession when running such claims.