City regulator says it will challenge lenders claiming not to have records about mis-sold car loans
The City regulator has warned it will challenge lenders claiming to have lost customer records about mis-sold car loans to ensure they get their fair share of a potential £18bn compensation pot.
The Financial Conduct Authority (FCA) is considering whether to open its redress scheme to contracts dating back to 2007, but some lenders have complained that they do not have records stretching back that far.
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