UK Drivers: Claim Car Finance Compensation
UK News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Millions of UK drivers may soon receive compensation for mis-sold car finance, as the Financial Conduct Authority finalizes rules this afternoon. This covers 14 million motor finance deals from 2007 to 2024, with estimated payouts topping £8 billion and another £3 billion in admin costs for lenders. Issues include hidden commission setups, high commission deals, and tied arrangements. Lenders like Lloyds have set aside billions, while firms like Close Brothers cut jobs. The scheme may roll out by early 2026, with lenders reaching out to eligible drivers.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/50d30982c344d02d