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 landmark supreme court hearing early next month.
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