Court of Appeal Decision Sparks Potential Car Finance Compensation Bill
A recent Court of Appeal ruling has expanded the scope of car finance mis-selling claims, potentially leading to compensation payouts of up to £25 billion. The ruling highlights the need for informed consent regarding hidden commission payments in car financing. The Financial Conduct Authority (FCA) is evaluating options to extend the timeframe for addressing complaints, with significant implications for both customers and lenders in the auto finance industry.