Branch2 Intelligence
UK drivers mis-sold car finance face longer wait for compensation payouts
Key takeaway
FCA faces legal challenges from four firms over car finance compensation, delaying payouts.
- Step 11st-order: FCA faces legal challenges from four firms over car finance compensation handling.
- Step 22nd-order: Tribunal pause delays payouts and creates regulatory uncertainty for motor finance firms.
- Step 33rd-order: Lenders and brokers face extended liability exposure, higher legal costs, and potential provision increases.
Source: Independent Business
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