Swinton defends private car renewal deposit scheme
Swinton has defended its use of a private car renewal deposit scheme which has been described as "questionable" by regulation experts.
The high street broker requires a deposit as part of the renewal process which goes towards the following year's premium.
However, RWA Compliance Services has queried this practice from a treating customers fairly (TCF) and client money perspective.
Indeed, Swinton's renewal deposit process also came under the spotlight when it was highlighted by the BBC last year.
Last month Swinton was fined £7.4m by the Financial Conduct Authority for mis-selling in terms of the aggressive sales strategy it
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