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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

FCA faces battle over £1m ad campaign rejecting car loan claims firms

Secondhand used motor cars for sale on a garage forecourt
The FCA’s car loan scheme is meant to compensate millions of drivers overcharged as a result of controversial commission arrangements. Photograph: Findlay/Alamy

The City regulator is facing a battle with claims companies over a £1m advertising campaign designed to discourage drivers from using their services to get payouts over the car loan scandal.

The Financial Conduct Authority (FCA) announced this month that it would roll out a series of online and radio adverts, telling drivers they will not need to use claims management companies (CMCs) or law firms to apply for their share of the regulator’s proposed £18bn compensation scheme.

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