"From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging."
"Earlier this year, the Financial Conduct Authority (FCA) said that motor finance firms had breached regulations by failing to properly inform customers about commission paid by lenders to car dealers. Anyone who bought a car via a hire purchase or personal contract purchase agreement between April 2007 and November 2024 could now be eligible for a payout under a new redress scheme. The average compensation is estimated to be 700 per agreement, potentially leading to an 8.2bn bill for lenders."
The Independent sends journalists to cover issues from reproductive rights and climate change to Big Tech, avoiding paywalls and relying on donations to fund on-the-ground reporting. The Financial Conduct Authority found motor finance firms breached regulations by failing to inform customers about commission paid to car dealers. Anyone who bought a car via hire purchase or personal contract purchase between April 2007 and November 2024 may be eligible for redress. Average compensation is estimated at 700 per agreement, potentially creating an 8.2bn bill for lenders. Approximately four million deals have produced complaints, with around ten million more potentially available for complaints. Martin Lewis urged motorists to submit DIY complaints and launched a Money Saving Expert tool for potentially affected customers.
#car-finance-mis-selling #fca-redress-scheme #martin-lewis--moneysavingexpert #news-funding-and-paywalls
Read at www.independent.co.uk
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