fca car finance compensation scheme â ė§ęļ ëŽīėĻ ėžėī?
A consumer group is planning a legal challenge to a scheme designed to compensate millions of drivers who were mis-sold motor finance agreements.
A consumer group is planning a legal challenge to a scheme designed to compensate millions of drivers who were mis-sold motor finance agreements. Consumer Voice said the City regulator's scheme, which is expected to cost lenders a total of ÂĢ9.1bn, left "too many people short-changed". Payouts averaging ÂĢ829 per person were due to begin this summer, under the Financial Conduct Authority's (FCA's) plans. But the latest development, which could be one of several legal challenges, may delay those compensation payments. Alex Neill, co-founder of Consumer Voice, said: "Millions of drivers were overc