Will car finance claimants get fair payouts? Yahoo – Money News
The Financial Conduct Authority’s (FCA) plan to launch a compensation scheme for motorists affected by the car finance scandal has raised many questions on eligibility and value.
The regulator mentioned as a lot as £18bn may finally be paid out to affected motorists, though precise particulars are nonetheless being finalised.
Banks equivalent to Lloyds (LLOY.L) and Close Brothers (CBG.L) have each set apart money for payouts, though the sums are more likely to be smaller than they initially anticipated.
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There was a blended response from law corporations concerning the compensation scheme. Lizzy Comley, COO of Slater and Gordon, mentioned it was optimistic information for “millions of people who have lost money”, whereas Nicola Pangbourne, a associate at Kennedys, mentioned: “If I used to be a driver, I might be very pessimistic about getting compensation.”
Earlier this week, we asked whether you thought claimants would receive fair payouts. We received 437 votes, with 18% believing affected motorists would be treated fairly, 72% believing that justice would not be done and 10% undecided.
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