Consumer Duty and broker cancellation fees
If you’re thinking about best customer outcomes, then how do cancellation fees – which differ from broker to broker and are often opaque in the amount that will be charged – square with Consumer Duty? “The answer was in plain sight,” says Paul Isaacs, managing director of Skyfleet. “They don’t.” So Skyfleet has cancelled its broker cancellation fees for both regulated and non-regulated business.
What are your thoughts? It’s certainly a question worth raising at tomorrow’s BVRLA Leasing Broker Conference. I look forward to discussing it with you there.
Broker growth and ambition
Ralph Morton, editor
Key stories this week
- Skyfleet cancels cancellation fees to fit with Consumer Duty – story here.
- Vehicle Consulting outlines ambitious growth plans – story here.
- Women in Broking: Bridle’s Nickie Brooks – read more here.
- Steve Lundie: new finance director at Nationwide Vehicle Contracts – read more here.
- IBMG halves carbon footprint thanks to Fleet Alliance – read more here.
- Women in Broking Award profile: Sam Ward – read more here.
- Read the full Broker News Newsletter 20 June 2023 here.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
