British lenders are heading to the supreme court this week as they try to overturn a ruling that has propelled the car finance scandal to new heights, triggering government intervention and prompting fears of a £44bn compensation bill.
Two specialist lenders, Close Brothers and FirstRand, are challenging three consumers who collectively won a court of appeal case in October. That ruling said that failing to disclose plainly to consumers the amount of commission paid to dealers, and get their informed consent, was unlawful.
