Car finance redress: FCA removes opt-out hurdle for drivers who complained early
Final rules on car finance compensation will be confirmed at the end of the month, setting out when millions could finally get their money back.
Final rules on car finance compensation will be confirmed at the end of the month, setting out when millions could finally get their money back.
The new FCA rules will require lenders to carry out affordability checks and offer support to customers who are facing financial difficulties.
You could have paid more for everyday banking – even if you’ve never used Apple Pay or owned an iPhone. A legal claim against Apple worth up to £1.5bn has been filed on behalf of over 50 million UK consumers.
With the FCA set to finalise its motor finance redress scheme, most drivers want to use it but many will take legal action if compensation falls short.
At least 44% of car finance deals show unfairness. Consumer Voice warns the FCA to fix flaws in its redress scheme so drivers get fair compensation and 8% interest.
Consumers can now verify whether a financial firm is genuine or not, as investment and pension scams hit an estimated 800,000 people.
New evidence suggests lenders are using delay tactics that could slow down fair and timely compensation for victims of car finance mis-selling.
Watchdog proposes car finance compensation payouts averaging £700 after finding nearly half of all motor loans since 2007 were unfair.
Financial campaigner James Daley is bringing the UK’s first class action regarding Apple Pay, alleging anti-competitive practices leading to increased banking charges for around 50m consumers.
Watchdog advice on car finance compensation ignores millions already with legal help, putting them at risk of poor decisions and lower payouts.
Regulators warn law firms, claims companies and the public over misleading practices and scams in motor finance commission claims.
Millions of drivers may be owed compensation – here’s what consumers should do now. Use our free tool to take the first step in reclaiming what you are owed.