FCA Addresses Unfair Finance Agreements with New Compensation Plan

Financial Conduct Authority announced £8 billion compensation scheme for car buyers affected by unfair finance agreements.
Affected individuals could receive £700 on average per agreement.
Scheme covers motor finance agreements from April 6, 2007, to November 1, 2024.
Nikhil Rathi, FCA CEO, emphasized lenders' non-compliance with laws.
1 month ago
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