Branch2 Intelligence
UK drivers mis-sold car finance face longer wait for compensation payouts
Key takeaway
FCA faces legal challenges from four companies over car finance compensation rules, delaying payouts to UK drivers.
- Step 11st-order: FCA faces legal challenges from four companies over car finance compensation rules, delaying payouts.
- Step 22nd-order: Car finance providers defer compensation provisions, improving near-term cash flow but extending regulatory uncertainty.
- Step 33rd-order: Prolonged uncertainty suppresses consumer demand for car finance and new/used cars, reducing revenue for motor dealers and related SMEs.
Source: Independent Business
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