#car-finance-mis-selling

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UK news
fromBusiness Matters
1 day ago

Lloyds sets aside extra 800m to cover car loan mis-selling fallout

Lloyds Banking Group added an £800m provision, raising total to £1.95bn, to cover expected car finance mis-selling redress amid an FCA industry estimate of £11bn.
fromBusiness Matters
1 week ago

FCA unveils 9bn compensation scheme for car finance scandal victims

Millions of motorists mis-sold car finance deals could receive average payouts of around £700, under a compensation scheme announced by the Financial Conduct Authority (FCA) on Tuesday. The regulator estimates that 14 million finance agreements between April 2007 and November 2024 were affected by unfair commission practices, leading to an expected £8.2 billion in redress and a potential £11 billion total bill once administrative costs are included.
UK news
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