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FCA to review claims management practices after consumer concerns

Cars parked at a showroom.
Regulator says it expects prompt and open cooperation from firms. Photo: Jack Taylor/Getty Images.

The review will look into motor finance claims management, housing disrepair, lead generators, and other firms not directly regulated by the FCA.

The UK’s financial regulator is launching a review into the way some claims management companies (CMCs) and legal firms are failing consumers and not acting in their best interest.

The announcement comes in the wake of the FCA’s announcement of its motor finance redress scheme in March. But the regulator