#discretionary-commission-arrangements

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fromBusiness Matters
3 weeks ago

FCA unveils 9bn compensation scheme for car finance scandal victims

Millions of motorists mis-sold car finance deals could receive average payouts of around £700, under a compensation scheme announced by the Financial Conduct Authority (FCA) on Tuesday. The regulator estimates that 14 million finance agreements between April 2007 and November 2024 were affected by unfair commission practices, leading to an expected £8.2 billion in redress and a potential £11 billion total bill once administrative costs are included.
UK news
Cars
fromBusiness Matters
1 month ago

Stellantis sets aside 37m as UK car finance scandal deepens

Stellantis provisioned £37 million for potential car finance mis-selling claims as regulators prepare a sector-wide compensation scheme that could cost lenders up to £18 billion.
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