Thousands of motorists who purchased vehicles on finance earlier than 2021 could possibly be set for payouts because the Financial Conduct Authority (FCA) has stated it’s going to seek the advice of on a compensation scheme.
In a press release launched on Sunday, the FCA stated its overview of the previous use of motor finance "has shown that many firms were not complying with the law or our disclosure rules that were in force when they sold loans to consumers".
"Where consumers have lost out, they should be appropriately compensated in an orderly, consistent and efficient way," the assertion continued.
Read extra: https://news.sky.com/story/fca-considering-compensation-scheme-over-car-finance-scandal-raising-hopes-of-payouts-for-motorists-13406307
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