💨 Abstract

The Financial Conduct Authority (FCA) announced an update on the car finance compensation scandal, planning to confirm within six weeks of a Supreme Court decision whether customers will receive redress. Those affected are individuals who overpaid on finance deals for vehicles before January 28, 2021, due to incentivized "Discretionary Commission Arrangements." The Court of Appeal previously ruled that brokers needed explicit customer consent for such commissions.

Courtesy: www.thesun.co.uk