Lenders look to have avoided having to pay out millions in compensation to motorists following a Supreme Court ruling. Its President, Lord Rees, announced that lenders are not held liable for hidden commission payments in car finance schemes. The decision on discretionary commission payments this afternoon came afterweeks of deliberation.
Close Brothers Motor Finance were among those seeking to overturn an earlier Court of Appeal judgement which said brokers must have customers' fully informed consent to receive commission. Lord Reed said: "For the reasons set out in detail in a judgment published today, the Supreme Court allows the appeals brought by the finance companies.
"However, we uphold Mr Johnson's claim that the relationship between him and the finance company was unfair, and we allow the appeal in his case only because the Court of Appeal made a number of mistakes in reaching its decision. Retaking the decision on a proper basis, we award him the amount of a commission plus interest. The other customers' claims are rejected."
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