UK Car Finance Mis-selling: £9.1B Compensation Scheme
UK News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
UKs Financial Conduct Authority approves £9.1 billion compensation scheme for car finance mis-selling, affecting millions of buyers. Average payout: £830. Scheme covers personal contracts and hire purchase loans, mainly those with discretionary commission setups. Two phases: older loans up to March 31, 2014 first, then the rest. Payouts include commission refunds and interest refunds at 17%-21% off overpaid amounts. Complain directly using FCA or MoneySavingExpert templates to speed up process.
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