Thousands of motorists who bought cars on finance before 2021 could be set for payouts as the Financial Conduct Authority (FCA) has said it will consult on a compensation scheme.
In a statement released on Sunday, the FCA said its review of the past use of motor finance "has shown that many firms were not complying with the law or our disclosure rules that were in force when they sold loans to consumers".
Read more: https://news.sky.com/story/fca-considering-compensation-scheme-over-car-finance-scandal-raising-hopes-of-payouts-for-motorists-13406307
#carfinance #money #loans #skynews #uknews
SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews
Follow us on Twitter: https://twitter.com/skynews
Like us on Facebook: https://www.facebook.com/skynews
Follow us on Instagram: https://www.instagram.com/skynews
Follow us on TikTok: https://www.tiktok.com/@skynews
Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/
For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android
https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB
To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales
