FCA ordered to partly suspend car finance compensation scheme
Court orders financial watchdog to halt parts of £9.1bn scheme until challenges are heard, delaying payoutsBusiness live – latest updatesThe UK’s financial watchdog has been forced to partly suspend its £9.1bn car finance compensation scheme, delaying payouts for millions of motorists.The Financial Conduct Authority had expected the scheme would start paying out £830 on average this year to those affected by the motor finance scandal, in which drivers were overcharged for loans as a result of commission payments between lenders…
Source: www.theguardian.com