![Buy IHG Points with 100% Bonus Points [0.50¢ or ₹0.43/Point]](https://boardingarea.com/wp-content/uploads/2025/03/8d9a3be30fa909df78102ae69e1db191.jpg?#)
UK lenders face huge car loan payout bill as watchdog moves closer to compensation plan
Potential FCA scheme could mean banks proactively inform borrowers if they were mis-sold car loansBusiness live – latest updatesBanks could be forced to proactively tell customers they have been mis-sold car finance, as the financial watchdog’s plans for a compensation scheme affecting potentially millions of Britons moved “one step closer”.The Financial Conduct Authority (FCA) said on Tuesday it would announce its decision on such a scheme – which could result in redress totalling billions of pounds – within six weeks of a decision following a landmark supreme court hearing early next month. Continue reading...
Potential FCA scheme could mean banks proactively inform borrowers if they were mis-sold car loans
Banks could be forced to proactively tell customers they have been mis-sold car finance, as the financial watchdog’s plans for a compensation scheme affecting potentially millions of Britons moved “one step closer”.
The Financial Conduct Authority (FCA) said on Tuesday it would announce its decision on such a scheme – which could result in redress totalling billions of pounds – within six weeks of a decision following a landmark supreme court hearing early next month. Continue reading...
