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The Independent UK
The Independent UK
Alex Croft

Car finance mis-selling payout scheme could cost billions, says FCA

A compensation scheme to pay out to drivers who were mis-sold car loans could cost as much as £18bn, the financial regulator has said.

Millions of drivers were denied payouts after the Supreme Court ruled on Friday (1 August) that lenders are not liable for hidden commission payments in car finance schemes.

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