Car finance compensation update as millions could be due back cash
THE Financial Conduct Authority (FCA) has issued a major update in the car finance compensation scandal.
In a statement today, it said it will confirm whether customers will get redress within six weeks of a Supreme Court decision.
Should a redress scheme go ahead, it could see those who bought a car, motorbike or van on finance before January 28, 2021 owed thousands of pounds.
The compensation case affects specifically those who were overcharged when they took out a loan to buy a vehicle.