Compensation payments averaging over £800 are due on over 12 million mis-sold car finance deals, the Financial Conduct Authority (FCA) has said.
On Monday, the FCA published its long-awaited compensation scheme covering the mis-selling of car finance deals that had secret commission payments within the deals.
The FCA said the deals meant consumers were denied the chance to seek a better deal and, in some instances, paid more for their loan.
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