In recently allowing three appeals (Johnson v FirstRand Bank, Wrench v FirstRand Bank and Hopcraft v Close Brothers Limited) the Court of Appeal has delivered claimant-friendly guidance to lower courts dealing with a substantial volume of borrowers’ claims relating to commission disclosures in the context of motor finance lending.

The decision may also have implications for credit broking outside the motor finance context, potentially affecting other intermediated credit products where a commission is paid to the broker and the customer is not told the exact amount of the commission and explicitly consents to it being paid.

The ruling and some of its potential implications are discussed in a short article prepared by our UK Contentious Regulatory team. To access the article please click here. For any queries, please refer to any of the contacts listed therein or those shown to the right.