FCA to review whether car finance customers could be owed compensation
The City regulator is reviewing whether people could be owed compensation for being charged too much for car loans, following a high number of complaints.
The Financial Conduct Authority will look at historical discretionary commission arrangements in the motor finance market. It said that, if it finds widespread misconduct, it will make sure those affected receive settlements in an orderly, consistent and efficient way.
The ombudsman service meanwhile said it has heard from more than 10,000 people who fear they were charged too much for their
