City regulator unveils compensation scheme for motorists who bought cars via discretionary commission deals from 2007 to 2024
Up to 14 million victims of the UK’s car finance scandal look likely to receive compensation payouts averaging £700.
The payouts would be less than previously expected, but announcing the plans for compensation on Tuesday, the Financial Conduct Authority (FCA) said that lenders could be landed with an £8.2bn compensation bill, though it could go as high as £9.7bn.
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