Prevent suppliers from monopolising consumer access to other finance providers

Rejected 21 signatures

What the petition asks

Several vehicle suppliers are continually refusing to provide invoices to independent finance providers and essentially blocking the consumer from access to whole of market finance choice. This is wholly unfair and goes against all of the FCA's Treating Customers Fairly principles.

Working for an independent bank, we have experienced more and more suppliers of vehicles, refusing to provide invoices / accept funds from independent funder's (even if the consumer has been refused finance from their 'in-house' finance provider). This must go against the principles of Treating Customers Fairly and is essentially giving the suppliers a monopoly over finance choices for their vehicles.

Why it was rejected

It asked for something that is not the responsibility of the UK Government or Parliament.

We can only accept petitions about things the Government or Parliament are directly responsible for.

Decisions about what finance providers to accept payment from are a matter for individual businesses, not the UK Government or Parliament.

Timeline

14 Apr 2023	Petition opened for signatures
17 Apr 2023	Rejected by the Petitions Committee

Key facts

Signatures 21

Status Rejected

Rejected 17 Apr 2023

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