“The NFDA is pleased to see that the Financial Conduct Authority (FCA) has published its feedback on proposed changes concerning a deadline for payment protection insurance (PPI) complaints”, said Sue Robinson, Director of the National Franchised Dealers Association which represents commercial vehicle and franchised car retailers across the UK.
The FCA has outlined feedback from stakeholders including the NFDA and issued a further consultation on PPI complaints. The FCA has also indicated that there will be a consumer media campaign to promote the new deadline, which is expected to be in 2019.
Robinson continued, “Dealers have been facing significant administration and costs for PPI claims and we believe that this decision will put an end to the uncertainty this has caused.
“The NFDA will respond to the consultation and support the consumer media campaign to raise awareness of the changes.”
NOTES TO EDITORS:
The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.