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FCA is on a crusade to put the brakes on rip-off car finance sales
The Observer
|March 01, 2026
Few things make my heart sink quite like the words “the next PPI scandal”.
We all know what follows: years of advertising and cold calls from claims management companies after a new goldmine.
Car finance is the latest crusade. Legal battles loom over so-called “discretionary commission payments” ~ essentially, secret bungs from lenders to car dealers if they steered buyers towards higher interest rates. Solicitors for three customers argued the very existence of this commission broke the law. Two of those cases were ultimately rejected by the supreme court, but the uproar was loud enough to push the Financial Conduct Authority (FCA) into setting up a redress scheme for up to 1.4m drivers. The details are due this month.
Cette histoire est tirée de l'édition March 01, 2026 de The Observer.
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