MPs told car loans scandal could be as big as PPI
The Guardian|December 11, 2024
Britain's car finance scandal could end up being as big as the payment protection insurance (PPI) mis-selling saga, which cost UK banks almost £50bn, the City regulator's top lawyer has admitted.
- Kalyeena Makortoff

Britain's car finance scandal could end up being as big as the payment protection insurance (PPI) mis-selling saga, which cost UK banks almost £50bn, the City regulator's top lawyer has admitted.

Stephen Braviner Roman, the Financial Conduct Authority's general counsel, said October's shock court of appeal ruling into car finance commission arrangements vastly expanded the scope of potential consumer compensation.

The ruling determined that paying "secret" commission to car dealers who arranged loans without disclosing the commission sum and terms to borrowers was unlawful.

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この蚘事は The Guardian の December 11, 2024 版に掲茉されおいたす。

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