FCA ordered to partly suspend car finance compensation scheme
Court orders financial watchdog to halt parts of £9.1bn scheme until challenges are heard, delaying payouts Business live – latest updates The UK’s financial watchdog
Court orders financial watchdog to halt parts of £9.1bn scheme until challenges are heard, delaying payouts Business live – latest updates The UK’s financial watchdog has been forced to partly suspend its £9.1bn car finance compensation scheme, delaying payouts for millions of motorists. The Financial Conduct Authority had expected the scheme would this year start paying out £830 on average to those affected by the motor finance scandal, in which drivers were overcharged for loans as a result of commission payments between lenders and car dealers between 2007 and 2024. Continue reading...
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