DCA – Case Closed: Commission But Not Discretionary

We have received a response from your lender regarding your claim and can confirm that while you were not subject to a discretionary commission arrangement, commission was paid.

It seems that the amount of commission paid for this loan is not high enough to consider the relationship between the loan company and the broker unfair.  Whilst the FCA has currently set the bar at 39% of the total cost of the loan (or 10% of the loan amount) in their redress scheme rules, this is being legally challenged and it might change therefore.

So, while this may not be the news you were hoping for in relation to DCA, the journey may not be over yet and we will be in touch as soon as we have more information for you.