Car Loan Scandal: Customers Advised to File Complaints Amidst Unresolved Issues
Victims of a car loan scandal have been advised to complain to their lenders if they believe their loans were mis-sold. MPs have criticized the situation as a complex ‘mess,’ and the Financial Conduct Authority (FCA) stated that customers should take action if dissatisfied. The FCA is exploring compensation for instances where hidden commission payments were made to dealers. The ongoing issues may lead to the largest financial compensation scheme since the payment protection insurance saga, with thousands of complaints already lodged.